Saturday 29 January 2022

US stocks surge, consumer prices jump

Markets were mixed on Friday.

The S&P 500 surged 2.4 percent and the Nikkei 225 jumped 2.1 percent but the STOXX Europe 600 fell 1.0 percent.

Investors in the US shrugged off a report showing that December’s core personal consumption expenditures price index rose 4.9 percent from a year earlier, the biggest increase since September 1983.

Chris Hussey, a managing director at Goldman Sachs, noted that “the Fed’s hawkish tilt received as-expected support from another high inflation print”.

Darrell Cronk, chief investment officer for wealth and investment management at Wells Fargo, warned that the “lows may not be in yet”.

No comments:

Post a Comment