June 13 (Reuters) - The S&P 500 and Nasdaq rose to fresh one-year highs on Tuesday after data showed consumer prices rose modestly in May, cementing bets that the Federal Reserve could skip raising interest rates at the end of its policy meeting on Wednesday.
Consumer price index $(CPI.UK)$ rose 0.1% last month compared with a 0.4% jump in April, with core inflation remaining unchanged at 0.4%, according to the U.S. Labor Department report.
On a year-on-year basis, headline inflation increased by a lower-than-estimated 4.0%, reflecting declines in the cost of energy products and services, including gasoline and electricity.
"Today's fall in the rate of inflation is likely to be welcomed by investors, but it remains stubbornly above the Fed's 2% target," said Richard Flynn, managing director of Charles Schwab UK.
"The good news is that the 'stickiness' in inflation is now confined to a smaller number of categories compared to earlier in the year."
Following the data, traders fully priced in that the U.S. central bank will hold interest rates at the 5%-5.25% range on Wednesday, while expecting a 60% chance of a 25-basis-point hike in July, according to the CME Fedwatch tool.
Referee, I don’t want to competition with Mr. Fox. He is not famous. I want to beat very famous people.
Posted by UlarSawa > Jun 14, 2023 10:27 AM | Report Abuse
Haiyoh MrFox still trolling Income lagi leh. Look like you both also need a competition leh. Income you want to challenge Mr🦊 or not. Referee can arrange one for you like Mike🐁. Ok. haiyoh. Boleh?
Senior Income after you defeated Mike🐁 by walkover already. No one is more famous you can challenge already leh. You give chance to junior sikit to challenge you. Boleh?
Ular, I want to challenge Ular because you are famous. Boleh? Same rules… no warrant allowed, and competition for 1 stock only. Ular you accept my challenge???
Ular later wait for Fed mtg over see can redeem the kfc or not. Many speculating no raise rate this round leh. Hope TiGong popi popi Ular again. Boleh?
Federal Reserve policymakers are poised to pause their hiking of interest rates for the first time in 15 months, while retaining a tightening bias that signals a possible resumption of moves as soon as next month.
The rate decision and committee forecasts will be released at 2 p.m. in Washington. Chair Jerome Powell will hold a press conference 30 minutes later.
Powell has signaled that Fed leaders would prefer to wait to evaluate the impact of past increases on the economy as well as of recent banking failures on credit conditions. Yet with inflation still more than twice the central bank’s goal, the committee is likely to emphasize it’s keeping open its options to hike again in July or September.
“This will be one of the trickier press conferences for Chair Powell, who I think will be aiming to keep market probability of a July hike reasonably high,” said Dean Maki, chief economist at Point72 and a former Fed researcher.
Cathy Woods also trader la. Don’t simply believe everything Cathy Wood says. Don’t believe also everything Warren Buffett says.
Posted by UlarSawa > Jun 14, 2023 5:19 PM | Report Abuse Goddess Cathie Wood is very daring FM leh. With her TP usd2000 is just a gimmick leh. Not the first time she sold Tesla also leh. Haiyoh. Correct?
Posted by qqq47660 > Jun 14, 2023 5:07 PM | Report Abuse Cathy woods sold 100 million USD worth of Tesla. U see goddes is also a trader
🐀 jail from 13/6/2023 to 8/8/2023… Sslee so powerful… can send 🐀 masuk jail very long time. If I send people go to jail in i3, it’s only for 2 to 3 weeks the longest la. Sslee, you are the champion 💪💪💪
Wah JohnChew 5 very active today. Later Sslee will show his power to JChew. Baru dia tahu. Ban until they repent? Sslee must not give up to ban trollers.💪💪💪
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
UlarSawa
35,552 posts
Posted by UlarSawa > 2023-06-13 23:00 |
Post removed.Why?