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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed likely to keep one additional interest rate hike in 2023 dot plot, analyst saysJamie Dutta, market analyst at Vantage, weighs in on the outlook for Federal Reserve monetary policy moves ahead of the central bank's upcoming interest rate decision.
Persons: Jamie Dutta Organizations: Federal Reserve
That is the smallest annual rise since February 2022 and reflects falls in the price of gas and electricity after an energy price cap, set by the energy regulator, was lowered at the end of June. “Although remaining high, food price inflation has also eased again, particularly for milk, bread and cereal,” said ONS deputy director of prices Matthew Corder. Food price inflation slowed to 14.9% in July, from 17.4% in June, with prices still rising strongly but less than in June. In less good news, services inflation accelerated last month to 7.4%, from 7.2% in June. “With labor costs being the bulk of the expense for services providers, the Bank of England may deem that more work has to be done to ensure that services price inflation is contained,” said Ellie Henderson, an economist at Investec in London.
Persons: , Matthew Corder, Ellie Henderson, Jamie Dutta Organizations: London CNN —, National Statistics, Bank of England, Investec, Financial Locations: , London
CNN —There may not be any lasting major negative ramifications from the surprise US credit rating downgrade by Fitch this week — not for the economy, not for consumers and not for the government’s ability to borrow. Normally, when your credit score as a consumer falls — or your credit rating as a country — there are negative consequences. Here’s why the United States is unlikely to see that kind of impact from the Fitch downgrade. The downgrade wasn’t a huge dropFitch cut its US credit rating to AA+ from what had been a sterling AAA rating. “Fitch’s credit rating is an expression of the probability of a default.
Persons: You’re, Fitch, , brinkmanship, Marc Goldwein, you’re, , Mark Zandi, Yellen, Jamie Dutta, Dutta, ” George Mateyo, ” Mateyo, ” José Torres, Torres, it’s, ” Torres, Uncle Sam, CRFB, – CNN’s Krystal Hur, Allison Morrow Organizations: CNN, Fitch, AAA, Committee, U.S . Treasury, Moody’s, AA, , Vantage, Key Private Bank, Federal Reserve, Interactive Brokers, Moody’s Investors Service, Treasury, Congressional, Social Security Locations: United States, States, corporates, United
Growth stocks are beating value peers by the most in 3 years, despite interest-rate increases and banking-sector turmoil. Sizzling rallies in Nvidia, Meta and Tesla shares have helped power the surge in growth stocks. BlackRock strategists projected a similar view, saying in a late February report that they expect value stocks to outperform. Nvidia, Tesla, MetaStunning rallies in the shares of tech giants such as Nvidia and Meta as well as electric-vehicle maker Tesla have helped growth stocks beat their value peers by such an impressive margin. "Lower rates feed into lower discount rates, making future cash flows of growth companies more attractive," Dutta said.
Nasdaq 100 futures rise, propelled by Meta shares
  + stars: | 2023-02-01 | by ( Alex Harring | ) www.cnbc.com   time to read: +1 min
S&P 500 futures advanced Wednesday night as investors looked beyond the latest interest rate hike and commentary from the Federal Reserve. Nasdaq 100 futures gained 1%, helped by Meta shares. The S&P 500 reversed losses to end the regular session with a jump of 1.05%, while the Nasdaq Composite closed 2% higher. Meanwhile, the Dow eked out a narrow 0.02% gain after dropping more than 500 points earlier in the day. Investors closely watched the Fed meeting Wednesday, where a 0.25 percentage point interest rate hike was announced.
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