US stocks are heading toward records with hopes that inflation is finally heading back in the right direction after its discouraging start to the year.
US stocks are rising toward records with hopes that inflation is finally heading back in the right direction after its discouraging start to the year.
Homebuilders were strong on hopes that cuts by the Fed would lead to easier mortgage rates, with Lennar and D.R. Horton both up at least 4 per cent. Big Tech and other high-growth stocks also rode the wave of expectations for lower rates, and Nvidia’s gain of 3.7 per cent was the strongest force pushing the S&P 500 upward.The optimism came from a report showing US consumers had to pay prices for petrol, car insurance and everything else in April that were 3.
Slowing retail sales could be seen as a positive for markets, because it could reduce the upward pressure on inflation. But a stalling out also raises worries about cracks forming in US consumer spending, which has been one of the main pillars keeping the economy out of a recession. Pressure has grown particularly high on lower-income households.
On Wall Street, Petco Health + Wellness was helping to lead the market after jumping 18.9 per cent. It named Glenn Murphy, who is CEO of investment firm FIS Holdings, as its executive chairman.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ASX set to slide as Wall Street drifts lowerWall Street has stayed in neutral, setting up the ASX to retreat at the open.
Read more »
ASX set to slide as Wall Street drifts lowerWall Street has stayed in neutral, setting up the ASX to retreat at the open.
Read more »
ASX set to slide as Wall Street drifts lowerWall Street has stayed in neutral, setting up the ASX to retreat at the open.
Read more »
ASX set to rise as Wall Street jumps after inflation finally slowsUS stocks are heading toward records with hopes that inflation is finally heading back in the right direction after its discouraging start to the year.
Read more »
ASX eyes gains as Wall Street advances; Meme stocks surgeStocks drifted higher in afternoon trading on Wall Street, leaving the market hovering just below the record high it set in late March.
Read more »
ASX eyes gains as Wall Street advances; Meme stocks surgeStocks drifted higher in afternoon trading on Wall Street, leaving the market hovering just below the record high it set in late March.
Read more »