Page 3 - Michael Reinking News Today

The latest inflation data has all but guaranteed the Fed will hold interest rates steady for the time being.

While a Monday night meeting between Biden and McCarthy was "productive," there are no signs the two sides are nearing a deal.

The major indexes soared after President Biden and House Speaker McCarthy both struck an optimistic tone on recent debt limit talks.

The major indexes made modest moves ahead of earnings from Microsoft, Alphabet and Meta Platforms.

The Organization of the Petroleum Exporting Countries and its allies over the weekend announced a surprise cut to crude production.

Investors also focused on the February CPI report, which gave a mixed picture on inflation.

The major benchmarks finished mostly lower Wednesday after another disappointing inflation reading.

The major benchmarks closed higher Monday after notching their worst week of the year on Friday.

Exxon Mobil (XOM) and General Motors (GM) both popped after reporting solid earnings.

The Federal Reserve started raising rates last March to combat inflation, and markets broadly expect a 25-basis-point hike on Wednesday.