Stubborn US inflation keeps jittery markets on edge

Stubborn US inflation keeps jittery markets on edge

Stubborn US inflation keeps jittery markets on edge

Stock prices in NY rose for a 4th straight trading day on Wednesday after a rise in United States long-term interest rates initially dragged down prices.

USA market indexes were higher on Wednesday.

Facebook (FB.O) jumped 3.7% while Amazon.com (AMZN.O) and Apple (AAPL.O) both rose more than 1.8%. The move in yields came after the government said consumer prices climbed in January a slightly faster pace than economists had expected.

The Standard & Poor's 500 index rose 35.69 points, or 1.3 percent, to 2,698.63. The Dow Jones Industrial Average fell 120 points, or 0.4%, to 24,535. MSCI's broadest index of Asia-Pacific shares except Japan climbed 1.3 percent.

Higher yields, a more aggressive Fed and a growing budget deficit loom as longer-term threats to the economy.

Here's How Kylie Jenner Is Celebrating Valentine's Day
The beauty gave birth to Stormi Webster on February 1 at 4:43 pm in Los Angeles with boyfriend Travis Scott . One tabloid is reporting she's just waiting to receive a sign-off from her doctor before hitting the gym.

"Tomorrow will bring the most important CPI report in over 10 years, as rising inflation (which will cause higher interest rates) has become one of the biggest risks to this multi-year rally".

"The combination of rising inflation and weaker demand would not normally bode well for the outlook and financial markets", wrote St George economists. But it hurt high-dividend companies like utility and phone companies.

Retailers, apparel makers and other companies that focus on consumers made some of the largest gains, a sign that investors expect shoppers to keep spending and the economy to keep growing.

The surprise slowdown comes after a three-month stretch of sizzling consumer activity, from September through November, which had fueled the most robust holiday sales in a decade. Excluding autos, retail sales would have been flat in January and a number of key sectors from furniture to building supplies suffered declines.

"We are now beginning to reach levels at or above previous peaks", he added. In August Netflix announced a deal with "Scandal" and "Gray's Anatomy" creator and producer Shonda Rhimes. Silver jumped 43 cents, or 2.7 percent, to $16.57 an ounce.

Lexus wins top spot in vehicle dependability for seventh straight year
Meanwhile, Toyota's Toyota brand fell to ninth in the 2018 vehicle dependability survey, from third in the previous year's report. The study aims to measure the long-term quality of vehicles, including new technologies and features now available to buyers.

NuVista Energy bucked the energy trend to rise 3 per cent to C$7.83 after Eight Capital and Raymond James raised their target prices.

On a day of heavy trading in healthcare companies, Henry Schein and Patterson Companies fell 6.64 per cent and 5.19 per cent, respectively, after news of a U.S. Federal Trade Commission complaint against the dental supply firms.

The EIA Petroleum Status Report showed an increase in oil inventory of 1.8 million barrels for the week.

The Toronto Stock Exchange's S&P/TSX composite index ended down 25.41 points, or 0.17 per cent, at 15,216.47.

Canadian National Railway was among the biggest drags on the index, losing 1.6 per cent to C$95.28.

Former Nats Pitcher Arrested With 44 Pounds of Drugs
He was already on the police radar for driving a vehicle suspected of being used for drug smuggling. Loaiza, who last pitched in the majors in 2008, made over $40 million in his 13-year career.

Related news