BusinessQuiet 63d · day 67
U.S. stocks rebound as oil retreats and inflation meets expectations
S&P 500 climbs 0.9% after oil prices ease from Iran war highs; inflation report at 3.4% fuels Fed rate-hike bets.
What to know
- Oil price retreat (2.8% fall to $104.61 per barrel) from Iran war-driven highs eases inflation pressure and stabilizes markets.
- Inflation report at 3.4% year-over-year matched economist expectations, steadying Wall Street ahead of anticipated Fed rate hike next week.
- Stock market rebounds sharply—S&P 500 +0.9%, Dow +1%, Nasdaq +1%—snapping four-day losing streak, while consumer sentiment continues declining despite market gains.
- Trump's pressure for lower rates conflicts with Fed Chair Warsh's focus on inflation control; long-term Treasury yields suggest bond investors expect Fed hikes to stabilize prices.
“A report on Friday showed that U.S. consumers had to pay prices for gasoline, food and other costs of living that were 3.4% higher last month than a year earlier.”
AP/Stan Choe · Philadelphia Inquirer ↗
Federal Reserve Chairman Kevin Warsh Fed Chair
President Donald Trump U.S. PresidentBrian Jacobsen Chief economic strategist, Annex Wealth Management
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Reuters