Wall Street ticks higher as hot U.S. inflation cools further - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Life Insurance News
    • Annuity News
    • Health/Employee Benefits
    • Property and Casualty
    • Advisor News
    • Washington Wire
    • Regulation News
    • Sponsored Articles
    • Monthly Focus
  • INN Exclusives
  • NewsWires
  • Magazine
  • Webinars
  • Free Newsletters
Sign in or register to be an INNsider.
  • Exclusives
  • NewsWires
  • Magazine
  • Webinars
  • Free Newsletters
  • Insider Pro
  • About
  • Advertise
  • Editorial Staff
  • Contact
  • Newsletters

Get Social

  • Facebook
  • Twitter
  • LinkedIn
Advisor News
Newswires RSS Get our newsletter
Order Prints
January 16, 2023 Newswires No comments
Share
Share
Tweet
Email

Wall Street ticks higher as hot U.S. inflation cools further

Record-Journal (Meriden, CT)

NEW YORK - Wall Street closed higher Thursday after a report showed inflation slowed again last month, bolstering hopes the Federal Reserve may take it easier on the economy through smaller hikes to interest rates.

While the report on U.S. inflation was clearly encouraging, stocks had already rallied earlier this week in anticipation of exactly such data.

The numbers were in line with forecasts on many points, and analysts warned investors not to get carried away by them.

The S&P 500 rose 13.56 points, or 0.3%, to 3,983.17.

The Dow Jones Industrial Average rose 216.96 points, or 0.6%, to 34,189.97.

The Nasdaq rose 69.43 points, or 0.6%, to 11,001.10 Small company stocks outpaced the broader market in a sign that investors were feeling confident about the economy.

The Russell 2000 rose, 32.01 points, or 1.7%, to 1,876.06.

Every major index is on track for weekly gains.

The nation's painfully high inflation has been at the center of Wall Street's wild movements for more than a year. Recently, stocks have been rising and bond yields have been falling on hopes inflation's cooldown from a summertime peak may get the Federal Reserve to ease off its barrage of rate hikes.

Such increases can stifle inflation, but they do so by slowing the economy and risk causing a recession.

They also hurt investment prices.

In the bond market, Thursday 's inflation report sent yields falling further as traders grow more convinced the Fed will downshift the size of its next rate increase. They're now largely forecasting a hike of just 0.25 percentage points next month, down from December 's half-point hike and from four prior increases of 0.75 percentage points.

Many traders are betting on the Fed to follow that with perhaps another quarterpoint hike, but to then potentially take a pause, according to data from CME Group.

Analysts cautioned that while Thursday's inflation report did show inflation at its least debilitating level in more than a year, it still leaves room for continued pressure on the economy from high rates.

They warned more big swings may still be to come for markets.

Older

U.S. inflation eases grip on economy, falling for a 6th month

Newer

Sneaky ways inflation affects your money in 2023

Advisor News

  • How a defined process eases client concerns
  • Study shows significant growth in 401(k) balances for younger workers who consistently participate
  • Powell says banking system is 'sound' following SVB collapse
  • Democratic infighting complicates Schumer response to banking crisis
  • Four indicted in defrauding NBA players a collective $13M
Sponsor
More Advisor News

Annuity News

  • Rethinking a 2023 rebalance as rate hikes remain
  • Why MYGAs are enjoying a renaissance
  • Nationwide and Fidelity Investments establish distribution relationship
  • Conning: Growing demand for in-plan annuities creates opportunity for insurers
  • VA sales slump to lowest level in 25+ years, Wink Inc. reports
Sponsor
More Annuity News

Health/Employee Benefits News

  • Alzheimer's volunteer urges Medicare, Medicaid to approve new drug
  • Lakeland special needs day care closed amid Medicaid fraud arrest
  • Idaho House votes to kill $4.7 billion Medicaid budget
  • Medicaid expansion set to pass in North Carolina with final ceremonial vote Thursday
  • Medicaid COVID expansion nears end
More Health/Employee Benefits News

Life Insurance News

  • Modern Life announces distribution partnership with Symetra
  • LIMRA: Life insurance premium expected to maintain record levels through 2024
  • Sordid Murdaugh crime saga far from over
  • Iowa woman gets 2 years in prison for defrauding life insurance policy of neighbor
  • Maximum life insurance coverage for vets increased to $500,000
More Life Insurance News

- Presented By -

Top Read Stories

  • Is your client emotionally ready for retirement?
  • Why MYGAs are enjoying a renaissance
  • Insurance industry reps leery of NAIC big data, AI questions
  • Nationwide and Fidelity Investments establish distribution relationship
  • As continuous enrollment provision ends, states begin Medicaid ‘unwinding’
More Top Read Stories >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Life Insurance News
  • Annuity News
  • Health/Employee Benefits
  • Property and Casualty
  • Advisor News
  • Washington Wire
  • Regulation News
  • Sponsored Articles
  • Monthly Focus

Top Sections

  • Life Insurance News
  • Annuity News
  • Health/Employee Benefits News
  • Property and Casualty News
  • AdvisorNews
  • Washington Wire
  • Insurance Webinars

Our Company

  • About
  • Editorial Staff
  • Magazine
  • Write for INN
  • Advertise
  • Contact

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2023 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • AdvisorNews

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.