Wall Street hits 3-month high as inflation cools
Technology stocks, cryptocurrencies and other investments are among the year's biggest losers due to the Federal Reserve's aggressive rate hikes leading the way.
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Technology stocks, cryptocurrencies and other investments are among the year's biggest losers due to the Federal Reserve's aggressive rate hikes leading the way.
NEW YORK (AP) — Stocks rallied to three-month highs on Wall Street Wednesday as investors welcomed a government report showing that inflation cooled more than expected last month. The encouraging inflation update sparked speculation that the Federal Reserve may not have to remain as aggressive about hiking interest rates as feared.
The local sharemarket closed 1.1 per cent higher after Wall Street stocks surged to three-month highs, reflecting a welcome drop in inflation.
NEW YORK—Stocks rallied to three-month highs on Wall Street Wednesday as investors welcomed a government report showing that ...
Wall Street roared after inflation dropped more than expected last month, sparking speculation the Fed may not have to be as aggressive about hiking interest rates as feared.