Wall Street opens in the green, reversing yesterday's losses that put an end to a seven-day winning streak for the S&P 500 and the Dow.
Consumer price inflation staged a return in July and beat economists' expectations. Even though this means prices for consumers rose on the whole, it is a good sign because it comes after the largely deflationary shock of the pandemic.Bureau of Labor Statistics
reported Wednesday. Together, the summer month increase puts a solid end to three months of price declines during the height of the pandemic lockdown. Over the past twelve months, prices increased by 1%, not adjusted for seasonal effects. Gas and energy prices, which soared in June, continued to increase. Gasoline prices alone contributed about a quarter of the monthly price rise last month.
Meanwhile, food prices actually declined by 0.4%, and the 'food at home' index fell 1.1%. The 'food away from home' index rose 0.5%, showing that, which strips out more volatile food and energy items,Moderate inflation is important for a functional growing economy.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock-index futures point higher after Dow, S&P 500 snap 7-day winning streakStock-index futures point to the upside Wednesday, with U.S. equities on track to resume a march to the upside a day after the Dow Jones Industrial Average...
Read more »
Dow Jumps 150 Points After Trump Signs Executive Orders To Extend Coronavirus ReliefThe Dow jumped 150 points today after Trump signed several executive orders to extend the coronavirus relief by skleb1234
Read more »
Wall Street mixed with stimulus in focus; Dow hits over five-month highThe S&P 500 and the Nasdaq fell on Monday as investors rotated out of heavyweight technology stocks and moved into lagging growth-linked sectors while awaiting word on progress in the fiscal support bill to support the country's battered economy.
Read more »
‘Golden cross’ materializing in Dow transports, Russell 2000A week after a bullish golden cross pattern formed in the Dow Jones Industrial Average, a pair of important stock-market indexes are also beginning to...
Read more »
Dow climbs 358 points as Trump stimulus orders offset China tensions | Markets InsiderUS stocks climbed on Monday as investors digested President Donald Trump's weekend stimulus orders against China tensions and new coronavirus ca...
Read more »
Dow ends over 350 points higher as tech stocks take a breatherThe Dow Jones Industrial Average jumped Monday, as shares of previously beaten down or lagging cyclical sectors saw renewed investor interest at the expense...
Read more »