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Midday movers: Nvidia, Micron and Wix rise; Li Auto falls May 20, 2024 11:33AM (Updated - May 20, 2024 11:33 AM EDT)

Investing.com -- Main U.S. indexes traded higher Monday, retaining a degree of optimism at the start of a new week that offers more clues as to the likely future direction of U.S. monetary policy.

Here are some of the biggest U.S. stock movers today:

• JPMorgan Chase (NYSE: JPM) stock fell 0.5% despite the investment bank raising its forecast for net interest income, or the difference between what it makes on loans and pays out on... (continue reading...)

Inflation data so far in 2024 "disappointing" - Fed's Barr May 20, 2024 11:20AM

Investing.com -- U.S. inflation data so far this year has been "disappointing," according to Federal Reserve Vice Chair for Supervision Michael Barr, in a sign that the central bank may need more proof that price pressures are cooling before beginning to ratchet down interest rates.

Speaking at an event in Florida, Barr said that 2024's inflation numbers have not given him the "increased confidence" needed to support lowering rates down from than two-decade highs.

He... (continue reading...)

Fed's Jefferson: too early to tell if slowdown in inflation 'long lasting' May 20, 2024 10:30AM

(Restores dropped first name)

By Michael S. Derby

(Reuters) -The recent ebbing in some key price increase indicators is encouraging but it is too soon to know whether inflation is back on a sustainable path back to 2%, Fed Vice Chair Philip Jefferson said on Monday.

"It is too early to tell whether the recent slowdown in the disinflationary process will be long lasting," Jefferson said in prepared remarks to the Mortgage... (continue reading...)

Dow Jones, Nasdaq, S&P 500 weekly preview: It's the Nvidia earnings week May 20, 2024 08:32AM

The Dow Jones Industrial Average (DJIA) closed above the key 40,000 level for the first time in history on Friday, rising 134.21 points, or 0.34%, to 40,003.59, after hitting an intraday high in the previous session.

The S&P 500 inched up 6.17 points, or 0.12%, to 5,303.27, while the Nasdaq Composite ended down 12.35 points, or 0.07%, at 16,685.97.

The week ended strong with the Dow up 1.2%, marking its fifth straight weekly gain. The S&P 500 and Nasdaq climbed 1.5% and... (continue reading...)

Interest rates likely to remain above levels seen in past decade - Fed's Bostic May 20, 2024 08:32AM

Investing.com -- Interest rates in the U.S. could remain higher than where they were for much of the last decade as recently-elevated inflation slowly subsides, according to Atlanta Federal Reserve President Raphael Bostic.

Speaking in an interview with Bloomberg Television, Bostic said that borrowing costs, which currently stand at a more than two-decade high, are "slowing things down" in the U.S. economy and helping to deflate some price pressures.

With interest... (continue reading...)