Wall Street Dips as Caution Sets in Ahead of Inflation Data
- 6 years ago
Wall Street Dips as Caution Sets in Ahead of Inflation Data
A strong reading on U. S. consumer price data on Wednesday could fan fears over rising inflation and faster interest rate hikes - the same worries
that sparked the sell-off after strong jobs data on Feb. 2.
Cleveland Fed president Loretta Mester, a voting member in the central bank’s rate-setting committee this year, said inflation should gradually rise this year, but not at a rate
that requires a faster Fed reaction in terms of raising rates.
(Reuters) - Wall Street’s main indexes were down about a third of a percent on Tuesday, falling for the first time in three
sessions as caution crept in ahead of crucial data on inflation, which has been the root cause of the recent sell-off.
I don’t think that’s going away any time soon," said Andre Bakhos, managing director at New Vines Capital LLC in Bernardsville, New Jersey.
After a wildly volatile week that pushed the market into correction territory, U. S. stocks gained roughly 3 percent over Friday
and Monday, their best two-day gains since June 2016.
A strong reading on U. S. consumer price data on Wednesday could fan fears over rising inflation and faster interest rate hikes - the same worries
that sparked the sell-off after strong jobs data on Feb. 2.
Cleveland Fed president Loretta Mester, a voting member in the central bank’s rate-setting committee this year, said inflation should gradually rise this year, but not at a rate
that requires a faster Fed reaction in terms of raising rates.
(Reuters) - Wall Street’s main indexes were down about a third of a percent on Tuesday, falling for the first time in three
sessions as caution crept in ahead of crucial data on inflation, which has been the root cause of the recent sell-off.
I don’t think that’s going away any time soon," said Andre Bakhos, managing director at New Vines Capital LLC in Bernardsville, New Jersey.
After a wildly volatile week that pushed the market into correction territory, U. S. stocks gained roughly 3 percent over Friday
and Monday, their best two-day gains since June 2016.