US stocks fall after CPI report shows inflation ticked down but was higher than expected in January
US stocks fell on Tuesday after the January CPI report showed stickiness in inflation, sustaining pressure on the Federal Reserve to keep interest rates at elevated levels.
A third straight win for S&P 500 was in question after stock futures were whipsawed following the first CPI report of 2023. Headline CPI eased to 6.4% year over year from December, but it was slightly higher than the 6.2% consensus estimate from Bloomberg. Price increases for energy and food and rent drove the monthly reading up 0.5%. Core CPI which strips out energy and food prices rose 0.4% for the month.
"Perfect spoiler for Valentine's day: markets were expecting to get further confirmation that a) peak is in and b) decline is at least steady, if not accelerating. This is critical for the disinflationary narrative and any hope for fed cuts this year. We got neither," Jan Szilagyi, CEO of investment research firm Toggle AI, wrote in a note.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
January CPI inflation report due today: Live updates on stock market and moreA new report on inflation is due Tuesday morning. Economists surveyed by Bloomberg forecast that the annual rate of price increases will slow to 6.2% in January following a decline to 6.5% in December.
Baca lebih lajut »
The stock market will surge if Tuesday CPI report cools down as expectedThe stock market is poised to surge 2% on Tuesday if new inflation data cools down as expected, JPMorgan says
Baca lebih lajut »
Why January's CPI report could deal a massive blow to the stock marketThe January CPI reading is expected to show a 6.2% rise from a year earlier, slowing from a 6.5% year-over-year rise seen in the previous month, according to a survey of economists.
Baca lebih lajut »
Danica Patrick and the Jaw-Dropping 2013 Daytona 500 PoleConspiracy theorists have had a field day with Patrick's first, and only, NASCAR Cup Series pole.
Baca lebih lajut »
S&P 500 Futures drop, yields dribble as “unidentified objects”, Fed’s indecision probe optimistsS&P 500 Futures drop, yields dribble as “unidentified objects”, Fed’s indecision probe optimists – by anilpanchal7 SP500 Futures RiskAppetite YieldCurve Fed
Baca lebih lajut »
Here's a look at the deadliest earthquakes in the past 500 yearsEarthquakes happen daily across the world. However, their impact varies. Some earthquakes are never felt and others have devastating and deadly consequences.
Baca lebih lajut »