Wall Street heads for gains after oil prices ease and inflation update comes in near expectations
Oracle rose 7.1% in premarket trading as Brent crude fell 3% and inflation data kept traders focused on a possible Federal Reserve rate hike.
- On Friday, U.S. stock markets rebounded from four straight days of losses, with futures indicating gains across major indices as oil prices retreated from recent highs.
- Easing oil prices, which jumped earlier this week due to the war with Iran, helped calm markets. Brent crude fell 3% to $104.44, while a report showed consumer costs rose 3.4% last month.
- Oracle climbed 2.6% after reporting stronger-than-expected quarterly earnings and revenue. Meanwhile, the 10-year Treasury yield eased to 4.92% from 4.95% late Thursday, signaling bond market confidence.
- Inflation data firmed Wall Street expectations that the Federal Reserve will hike interest rates at next week's meeting. Abroad, the FTSE 100 added 0.8% following positive Britain economic data, though Asian markets lagged.
- Rising expectations for rate hikes sent the two-year Treasury yield to 4.58% from 4.56% late Thursday. Bond market moves reflect investor confidence that higher rates will help control inflation over the longer term.
23 Articles
23 Articles
Inflation data suggest an increase in interest rates in the US. In December, the US Federal Reserve could re-sell. Moreover, the falling oil price is supporting the US banks.
Wall Street heads for gains after oil prices ease and inflation update comes in near expectations
U.S. stocks appear to be heading for gains as oil prices give back some of the week’s big spurt. Futures were up 0.7% for the S&P 500 index, 0.7% for the Dow Jones Industrial Average and 0.8% for the Nasdaq…
The Toronto Star
US stocks jump after oil prices ease and inflation update comes in near expectations
NEW YORK (AP) — U.S. stocks are rebounding Friday and clawing back much of their losses for the week after oil prices eased off their recent spurt. An update on inflation across the United States that came in close to…
Wall Street rises after oil prices ease and inflation update comes in near expectations
NEW YORK (AP) — U.S. stocks are rebounding and clawing back much of their losses for the week after oil prices eased off their recent spurt. A strong earnings report from tech giant Oracle and an update on inflation across the United States that came in close to economists’ expectations also helped calm the market Friday. The S&P 500 rose 0.9% in early trading. The index is coming off four straight losses. The Dow Jones Industrial Average rose 5…
(Teleborsa) - Wall Street starts the last session of the week on the rise after the figures on American inflation in August, with investors increasing their bets on a rise in interest rates by the...
US stocks opened higher on Friday, as the market shrugged off an inflation figure that came in line with expectations, while oil prices retreated after Thursday's clear rise.
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