Shares rocketed higher in early trading as new data showed inflation slowed more than expected last month after a string of aggressive interest rate hikes by the Federal Reserve meant to tamp down an overheated economy.
The welcome news came ahead of the Fed’s last scheduled meeting of the year tomorrow where it’s expected to announce an interest rate hike of 50 basis points, following four consecutive 0.75% increases this year that had economists, companies and consumers worried about imminent recession.
A string of media executives in recent weeks have noted a glum ad market with advertisers pulling back due to the lack of economic clarity.
Fed chair Jerome Powell is planning a press conference tomorrow afternoon. The DJIA opened up 600 points, off premarket highs.
Read more on deadline.com
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.