News

Despite hitting a bump on the road to low inflation, a majority of FOMC members still expect—for now—to cut rates three times in 2024.

SocGen analysts argue the S&P 500 index could climb to 6,250 before reaching the multiples seen in the dot-com boom of 2000.

Markets bet that the U.S. Federal Reserve will be in no rush to cut rates, with U.S. 10-year yields climbing 10 bps.

After a steep drop in January, today's report points to a consumer who's growing more discerning as the labor market starts to cool, credit access becomes more limited, and higher prices continue to bite.

In February, the core CPI rose 0.4% from January and 3.8% from a year ago.

If Fed officials pencil in, at their meeting next week, three quarter-point rate reductions for 2024, they will set the stage for a cut in June.

"The February jobs report doesn't look recessionary. But it does suggest the Fed is getting closer to mission accomplished, calming the hot jobs market that contributed to high inflation."

The value of exports edged up 0.1%, but imports rose 1.1%, led by capital goods and motor vehicles.