Stock market today: Wall Street drifts after inflation update comes in as expected
The S&P 500 rose 0.3% in afternoon trading, coming off its first loss since before
Stocks got support from easing yields in the bond market. The yield on the two-year
“Bang in-line core inflation leaves the Fed on track to cut rates in December,” according to
The question is what will happen in 2025. Prior forecasts published by the Fed implied it could keep cutting rates through next year. But Donald Trump’s victory in the presidential election may have scrambled those plans. Economists say his preferences for lower tax rates, higher tariffs and less regulation could ultimately lead to higher
While lower interest rates can give a boost to the economy and to prices for investments, they can also give inflation more fuel.
Still, Wednesday’s data was reassuring for the market following a run of stronger-than-expected data on the economy, which could have signaled upward pressures on inflation.
“The market may be concerned that we are at an inflection point, with inflation potentially returning to an upward trajectory,” said
On
The deal’s total size could be worth up to
Spirit Airlines’ stock lost 58.5%. The airline said in a regulatory filing that it’s still trying to work out a deal to renegotiate the repayment of its debt, and if it can reach an agreement, it could wipe out the company’s stockholders. But it could also protect employees and customers.
Other airlines were among the market's leaders, including gains of 2.1% for
In stock markets abroad, Japan’s
Indexes were modestly lower across much of the rest of
In the crypto market, bitcoin crossed above
Dogecoin, a cryptocurrency that’s been a favorite of Tesla’s
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AP Writer
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