U.S. stocks elbowed their way past an earnings miss from Amazon to charge higher Friday, boosted by an Apple beat that helped offset some concerns from a a rough week of third-quarter Big Tech results. The S&P 500 (^GSPC) gained 1.6%, while the Dow Jones Industrial Average (^DJI) bounced nearly 600 points, or 1.8%. The tech-heavy Nasdaq Composite (^IXI) rose 1.7%. The moves came as Treasury yields charged back above 4%. On the economic data front, the Federal Reserve’s preferred inflation… Source link
Read More »Cost of doing too little outweighs cost of doing too much
Several Fed officials felt that the cost of taking too little action to bring down inflation likely outweighed the cost of taking too much action, according to the minutes of discussions among Fed officials at their policy meeting three weeks ago, echoing recent public statements. “While the minutes provided some hints that Fed officials are beginning to lay the ground for a slower pace of rate hikes eventually, the overall tone was still hawkish, suggesting that the Fed will push ahead with… Source link
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