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...The S&P 500 climbed to its highest level in a month as traders had higher hopes for rate cuts after the publication of soft labour market data....
...Across the Atlantic, Wall Street’s S&P 500 was up 0.2 per cent and the tech-dominated Nasdaq Composite rose 0.1 per cent....
...Equally, the few who correctly predicted inflation’s rise, such as Larry Summers, were too pessimistic about how entrenched it was. Inflation is poorly understood, and devilish to forecast....
...UK manufacturing activity returned to growth in March for the first time since the summer of 2022 thanks to strengthened domestic demand, according to a closely watched survey....
...The S&P 500 dropped at least 2 per cent in a day on more than 20 occasions last year, while this year it has happened only once, in February....
...Eurozone inflation fell to 2.4 per cent in March, lower than forecast, bolstering expectations that the European Central Bank will cut interest rates by the summer....
...Most make losses which are then recovered during peak summer trading. Even so, their share price performance this year compares poorly with the budget carriers. These lowly valuations look odd....
...The S&P 500 and the Nasdaq Composite recorded their third straight week of gains for the first time since the summer, after soft inflation data added to traders’ conviction that the Federal Reserve has finished...
...The group’s debt rating was cut to junk by S&P in March. The fate of the subscale Paramount+ in any takeover is unclear....
...In contrast, the S&P 500’s price-to-book ratio is close to the record 5 times it touched in 2021 and 2000 (the Nasdaq’s P/B ratio is close to 7.5 times)....
...By the time Tesla was included in the S&P 500 index, it had already become the sixth-largest US company by market capitalisation....
...But Biden himself recently said he expected the Fed to begin cutting rates this summer....
...The blue-chip S&P 500 closed up 0.9 per cent, at a new record, continuing a rally that has pushed the index 27 per cent higher since October. The Nasdaq Composite gained 1.3 per cent....
...The rise in crude prices has contributed to increasing petrol prices ahead of the summer driving season that begins next month....
...The drop in wage growth expectations will support the view that the central bank will start reducing rates from a 16-year high of 5.25 per cent in the summer....
...On the equity side, small-cap stocks continue to be the story: while the S&P 500 has shrugged, the Russell 2000 is up 6 per cent since Jay Powell started talking....
...Over summer, RTX said it had discovered issues with an estimated 1,200 P&W engines fitted to Airbus commercial jets, which will result in hundreds of jets being grounded over the next few years as parts...
...In early summer, they were even more dominant, accounting for all of the index’s gains....
...Some of the improvement in headline inflation stems from a sharp fall in US petrol costs in recent months, which has pushed average prices to their lowest since the summer of 2021....
...The S&P 500 closed down almost 1 per cent with roughly nine in every 10 stocks losing ground....
...Committee to answer questions on intergovernmental relations The IMF’s executive board meets to discuss the approval of $1.1bn funding for Pakistan, the last tranche of a $3bn standby arrangement secured last summer...
...The results are not flattering: Combs and Weschler are trailing both Buffett and the S&P 500....
...Annual inflation has fallen 6 percentage points from its summer 2022 peak, and the unemployment rate remains near record lows, even as interest rates have risen. To top it off, the S&P 500 is soaring....
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