Investing.com -- The S&P 500 and Nasdaq notched a record close Tuesday after consumer prices rose by less than expected in July, increasing the probability of the Federal Reserve cutting interest rates next month. At 4:00 p.m. ET (20:00 GMT), the Dow Jones Industrial Average traded 483 points, or 1.1%, higher, the S&P 500 index added 1.1%, and the NASDAQ Composite rose 1.4%, notching ...
Investing.com - Headline U.S. consumer price growth in the U.S. was slower than anticipated on an annualized basis in July, possibly bolstering the case for the Federal Reserve to cut interest rates at its next policy gathering in September. The Bureau of Labor Statistics’ consumer price index, a closely-monitored gauge of inflation, rose by 2.7% in the twelve months to July. The pace match ...
Investing.com-- Asian stock markets climbed on Wednesday in broad-based buying, tracking sharp overnight gains on Wall Street after mild U.S. inflation data fueled Fed rate-cut hopes, while Japan’s Nikkei extended its record-setting rally. Shares in Sydney fell against the regional trend, as earnings from heavyweight Commonwealth Bank of Australia (ASX:CBA) pulled the broader financial sect ...
Investing.com-- Bitcoin slightly on Wednesday, while Ether neared record highs as cryptocurrency markets rallied on mild U.S. consumer inflation data, which ramped up bets on a September interest rate cut. Altcoin prices fared much better than Bitcoin on Tuesday and Wednesday, as improving risk appetite drove a wave of buying into more discounted assets, such as Ether, which had largely lagge ...