Economics
Wall Street Greets Below-Forecast Inflation Data With ‘Sigh of Relief’
- ‘Fed’s medicine is working -- with lagged effects’: Ielpo
- ‘It’s way too early to declare victory yet’: Catrambone
This article is for subscribers only.
The clearest sign yet that the Federal Reserve’s campaign against inflation is slowing price gains jolted risk assets higher across Wall Street on Thursday.
Futures spiked, short-term Treasury yields sank and the dollar weakened versus major peers after the consumer price index accelerated less than forecast in September. The S&P 500 jumped as much as 3.7% after the open -- the most in two years -- and the benchmark is poised for its best first-day reaction for a CPI report since 2008.