Wall Street weakens as bond yields ease ahead of inflation report
NEW YORK — U.S. stock indexes are swinging from gains to losses on Tuesday, as traders make their final moves before several potentially market-moving reports later in the week.
The question hanging over Wall Street is whether inflation will cool enough to convince the Federal Reserve to deliver the cuts to interest rates that traders are craving and have been betting on. Some doubts have crept in following a series of hotter-than-expected reports on the economy, and traders are now expecting just two or three cuts to rates this year. Some are even talking about the possibility of zero cuts.
While a jump in oil prices this year has raised worries about a feedthrough into inflation, oil would likely need to rise “well above levels seen even in the peak Russia-Ukraine commodity price spike for a meaningful impact on core inflation,” the Bank of America strategist said in a BofA Global Research report.
Norfolk Southern rose 0.8% even though the railroad reported preliminary earnings results for the first quarter that were shy of analysts’ expectations.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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