A rebound for Nvidia following its sharp drop the day before helped steady the market, and the majority of stocks rose.
NEW YORK — Wall Street is easing toward the end of its dreary February, and U.S. stock indexes are drifting following The S&P 500 was up 0.6% in morning trading and trimming its loss for the month, which had been on track to be its worst since April. It’s fallen in
But it also said that U.S. households pulled back on their spending during January. That’s dangerous because their strong spending so far has been a major reason the U.S. economy has avoided a recession despite high interest rates. they’re under pressure and worried. Inflation is still high, even if it’s not as bad as its peak from 2022, and a widespread worry is that tariffs announced by Trump could push prices for the cost of living even higher.
All the uncertainty around not only tariffs but also deregulation and other potential moves could mean that “if the market doesn’t see Trump moving towards more market-friendly policies, the level of trust could continue eroding,” Bank of America economists wrote in a BofA Global Research report.Of course, much of January’s drop in spending by U.S. households could have simply been a result of painfully cold weather around the country and other anomalies.
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