Thursday,
September 12, 2024
Market recap
Dow Jones
40,861.71
+124.75 (+0.31%)
S&P 500
5,554.13
+58.61 (+1.07%)
Nasdaq
17,395.53
+369.65 (+2.17%)
Top Story
For the first time in 20 years, the gender wage gap increased. At the same time, American households also got an overall raise. Here’s what happened.
• The market reversed from an initial decline as investors digested inflation data.
• Consumer price inflation rose 2.5% year-over-year in August, the smallest advance since February 2021.
• Shares of First Solar soared following the U.S. presidential debate, where solar power was a topic of discussion.
• Wholesale inflation for August.
• We’ll also get the weekly update to first-time unemployment claims.
• In earnings, Adobe and Kroger will report.
The latest look at consumer price inflation showed that the pace of price increases came down again in August, perhaps allowing Americans to breathe a sigh of relief.
That said, not all parts of the data were showing the same trend. Core inflation, which strips out the more volatile food and energy components, came in hotter than expected. In the past, when inflation numbers were some of the key drivers of market action and sentiment, this could have spooked people. But times have changed, our investment strategy team wrote in this week’s column.
“Inflation has been demoted,” said Senior Analyst Mario Ismailanji, as the focus shifted to the labor market over the past months.
So then, how should investors look at this inflation report? Here’s how to think about the data.
Investors have been watching the “yield curve” for literal years at this point. And no matter which way things are going, it seems to signal a recession ahead. Is it still a useful market indicator?
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Read more >>Other news that caught our eye
Amazon is opening new “Fresh” supermarkets after halting expansion of the chain more than a year ago.
42 state Attorneys General want a warning label on social media apps, supporting the U.S. Surgeon General’s efforts to stem addiction and mental health risks among young users.
The price of gold fell after flirting with all-time highs following inflation data that cast doubts on the likelihood of a 50-basis-point interest rate cut by the Federal Reserve. A large cut would mean interest-paying assets yield less, potentially making gold more appealing.
There might not be enough new workers to support the nuclear transition. The number of U.S. graduates with nuclear engineering bachelor’s degrees fell by about a quarter from 2012 to 2022.
Financial planner tip of the day
"When figuring out how to become financially independent, it can behoove individuals to invest early and often. Even if it’s only $25 or $50 per month, small amounts can add up. By investing earlier than later, money has more time to grow and for interest to compound."
Brian Walsh, CFP® at SoFi