Page 5 - Eric Merlis News Today

Ordinarily, stronger-than-expected hiring would spook the market, but slowing wage growth caused stocks to pop.

There also appeared to be some gains made in a measurement watched even more closely by the Fed: Core CPI.

The FTSE100 climbed 1.86 per cent, or 132.69 points, to 7281.19 while bourses in Paris, Frankfurt and Milan also rallied sharply.

U.S. employers hired more workers than expected in August.

The FTSE100 climbed 1.86 per cent, or 132.69 points, to 7281.19 while bourses in Paris, Frankfurt and Milan also rallied sharply.

Our roundup of the latest news from metro Detroit and Michigan businesses as well as announcements from government agencies.

"Fed Minutes Show Officials Expecting to Raise Rates Three Times to Address Inflation." "Fed minutes point to more rate hikes that go further...

Outflows continue with the Investment Company Institute reporting $5.371 billion pulled from muni bond mutual funds in the week ending April 27. Exchange-traded funds saw inflows at $1 billion.

Market-leading growth and technology stocks, that were underpinned by record low interest rates, have come under pressure since late March on signals from the Federal Reserve that it will hike rates aggressively to control soaring inflation.

The Nasdaq fell more than 1 percent on Monday, leading Wall Street's main indexes lower, as rising bond ...