U.S. Stocks End Losing Week Positively as Fed Rate-Hike Bets Rise
On September 11, U.S. stocks rose slightly after the release of inflation data that reinforced expectations for a Federal Reserve rate hike at its upcoming meeting. The Dow Jones Industrial Average and Nasdaq Composite each gained about 0.9%, while the S&P 500 climbed by nearly 0.8%. Despite this positive close, all three major indexes recorded weekly declines following four consecutive days of losses. The latest Consumer Price Index (CPI) data showed annual inflation at 3.4% and a monthly increase of 0.4%, in line with expectations but slightly higher than July's figures. The core CPI—excluding volatile food and energy prices—rose to 0.3%, exceeding forecasts, which increased market confidence that the Fed will raise rates by 25 basis points at its meeting next week. Yields on U.S. Treasurys rose as traders adjusted for higher interest rate expectations. Meanwhile, oil prices retreated slightly after a recent surge pushed Brent crude above $108 per barrel and diesel to record highs.
Topics: fed rate hike expectations inflation data stock market