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Bloomberg
US Futures Plunge, Yields Spike on Inflation Shock: Markets Wrap
(Bloomberg) — US stock futures plunged and Treasury yields spiked higher after American prices rose faster than expected last month, likely clearing the way for the Federal Reserve to raise interest rates sharply at its next meeting.Futures on the S&P 500 erased gains to trade lower by more than 1.5%. The cash index had rallied four straight days on anticipation that inflation had peaked and the Fed would be able to avert a sharp recession. The two-year Treasury yield jumped about 10 basis poin
Bloomberg
BofA Survey Shows Investors Fleeing Equities en Masse on Fear of Recession
(Bloomberg) — Investors are fleeing equities en masse amid the specter of a recession, with allocations to stocks at record lows and cash exposure at all-time highs, a Bank of America Corp. survey showed.A historically high 52% of respondents said they are underweight equities, while 62% are overweight cash, according to the bank’s global fund manager survey, which included 212 participants with $616 billion under management in the week through Sept. 8.As concerns over the economy escalate, the
Bloomberg
US Inflation Data Will Determine If Stock Rally Continues
(Bloomberg) — The S&P 500 Index is on a roll, posting its best four-day rally since early July partly on the back of hopes that inflation data due Tuesday morning will show some cooling off ahead of next week’s Federal Reserve meeting.Most Read from BloombergThe World’s Hottest Housing Markets Are Facing a Painful ResetJeff Bezos’s Blue Origin Rocket Suffers Failure Seconds Into Uncrewed LaunchUkrainian Successes Raise Russian Collapse to Realm of PossibilityRussian Defenses Crumble as Ukraine
Investor’s Business Daily
CPI Inflation Rate Slides, But Hot Core Prices Are Bad News For The Fed And Dow Jones
The CPI inflation rate continued to pull back from a 40-year peak in August, but less than expected. Core inflation, which strips out food and energy prices, unexpectedly reaccelerated from July’s tamer pace. Following the CPI report, which cinches a big Fed rate hike next week, Dow Jones industrial average futures reversed sharply lower in early Tuesday stock market action.
Bloomberg
US Inflation Tops Forecasts, Cementing Odds of Big Fed Hike
(Bloomberg) — US consumer prices were resurgent last month, dashing hopes of a nascent slowdown and likely assuring another historically large interest-rate hike from the Federal Reserve.The consumer price index increased 0.1% from July, after no change in the prior month, Labor Department data showed Tuesday. From a year earlier, prices climbed 8.3%, a slight deceleration, largely due to recent declines in gasoline prices.So-called core CPI, which strips out the more volatile food and energy c
The Telegraph
Russia’s cash reserves run dry as West shuns Putin’s energy
UK teeters on edge of recession after ‘feeble’ rebound FTSE 100 jumps 1.3pc; Pound slumps against euro Roger Bootle: We face a succession of Black Wednesdays – but good things can come out of bad Sign up here for our daily business briefing newsletter
TipRanks
‘Investors Should Consider Defensive Equities,’ Says JPMorgan; Here Are 2 High-Yield Dividend Names to Consider
Markets are up in recent sessions, and year-to-date losses have moderated somewhat. The NASDAQ, which has taken the hardest hits this year, is back above 12,200, although still down 22% this year. The S&P 500 has managed to climb back out of the bear market, is above 4,100 now, and its year-to-date loss stands at 14%. Neither index has really tested its June low again in the last two months, and recent trends are upwards. Writing for JPMorgan, global investment strategist Elyse Ausenbaugh gives
Motley Fool
Here’s Why Nio Stock Is Exploding Today
Nio (NYSE: NIO) stock exploded this morning and was trading nearly 10.3% higher as of 11 a.m. ET Monday. An analyst who closely tracks the Chinese electric vehicle (EV) market just singled out the hot stock as his top EV pick in China and sees Nio shares doubling in value over the next 12 months, backed by two big growth catalysts. Deutsche Bank analyst Edison Yu has two reasons why Nio could outperform and emerge as the leader among EV start-ups, according to The Fly.
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