top of page
  • NEWS Desk Global

WALL ST RISES AFTER SOFT INFLATION DATA




Wall Street's main indexes gained on Friday after a key inflation reading came in softer than expected, boosting recent investor optimism that the Federal Reserve could lower borrowing costs next year. The personal consumption expenditures (PCE) price index, considered to be the Fed's preferred inflation gauge, climbed 2.6% in November on an annual basis, compared with expectations of a 2.8% rise.

The core inflation figure, which excludes volatile food and energy components, rose 3.2% on a yearly basis, compared with an estimated 3.3% rise. "3.2% represents a victory for a Fed that remains keenly focused on restoring price stability without damaging a still healthy labor market, in essence balancing its two mandates," said Quincy Krosby, chief global strategist for LPL Financial.

0 views0 comments

Comments


bottom of page