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Saturday, December 3, 2022

US stocks close higher after worst rout in 2 years as investors assess the impact of August inflation on Fed’s next move | Business Insider

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US stocks end the day up after their biggest downturn in two years as investors gauge how August inflation will affect the Fed’s next move.

After the market’s worst session in two years amid unstable trading, US stocks ended the day with modest gains. The indexes started off higher, went negative, and then turned back up in the closing minutes of the session. Early on Wednesday, the producer price index decreased 0.1% from the previous month in August, as anticipated. Markets, meanwhile, were still processing Tuesday’s consumer price index report, which revealed an unanticipated monthly gain that solidified expectations for a significant rate hike at the Federal Reserve meeting next week.

Source:https://www.businessinsider.com/stock-market-news-today-dow-sp500-volatile-equities-interest-rates-2022-9

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