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Stocks Fall as Investors Prepare for Upcoming Key Inflation Data | Market Story
The market was green by majority Thursday, but don't tell anyone.
New York Fed's Williams Sees 2% Inflation in 2025, Soft Landing Ahead
The current stance of monetary policy is restrictive enough to get inflation down to a 2% annual pace by next year, Federal Reserve Bank of New York President John Williams said on Thursday.
Best Buy Shares Rise After Fiscal Q1 Earnings Top Consensus
Best Buy (BBY) shares rose 11% in recent trading Thursday after the company posted fiscal Q1 earnings that topped estimates.
Economy Growing Slow, Market Pulling Back | Herd on Wall Street
Morning mooers! It's Thursday, May 30th. The market indexes are in decline, and GDP numbers were revised lower, but overall, there is more green than red out there. My name is Kevin Travers, here are stories heard on Wall Street today:
US GDP revised downward to 1.3% increase from the previous fiscal year ending January-March
The revised real gross domestic product (GDP) value for the January-March fiscal year announced by the U.S. Department of Commerce on the 30th was seasonally adjusted and increased 1.3% in terms of an annualized rate compared to the previous fiscal year. Mainly, the slowdown in private consumption resonated, and it was revised downward from the 1.6% increase in the preliminary report. The widening trade deficit and a slight increase in unsold inventory also weighed on economic growth. Private consumption was revised downward from a 2.5% increase in the preliminary report to a 2.0% increase. The pace of increase was over 3% in the last two quarters of last year. (Market Watch)
Fed Fears Have Rattled Stocks, but That's Not the Biggest Risk to the Market, Says Josh Brown
It's been a fairly upbeat May for tech COMP and the S&P 500 SPX, but things are starting to unravel some as fears over higher-for-longer rates return with a vengeance.