The Dow Jones Industrial Average stock index hit 40,000 for the first time Thursday amid renewed investor hopes for a “soft landing” for the U.S. economy following a favorable inflation report.
The Biden-Harris campaign released a statement calling the milestone “just another example of how President Biden is strengthening our economy and helping to secure the retirement of millions of Americans across the country.”
“The news on Core inflation [excluding food and energy prices] was better than expected,” Gary Pzegeo, head of fixed income at CIBC Private Wealth US, said in a statement.
The Dow Jones Industrial Average fell about 5% between the end of March and the beginning of April as economists and investors fretted over whether or not progress on inflation had stalled.
“Following three months of inflation upsets, the April report put a soft landing and 2024 rate cut back in investors’ sights,” Julia Pollak, ZipRecruiter’s chief economist, said in a statement.
Publicly traded American companies aren’t seeing it, as corporate earnings expectations move steadily higher," Bankrate analyst James Royal said in a statement.
The original article contains 729 words, the summary contains 174 words. Saved 76%. I’m a bot and I’m open source!
This is the best summary I could come up with:
The Dow Jones Industrial Average stock index hit 40,000 for the first time Thursday amid renewed investor hopes for a “soft landing” for the U.S. economy following a favorable inflation report.
The Biden-Harris campaign released a statement calling the milestone “just another example of how President Biden is strengthening our economy and helping to secure the retirement of millions of Americans across the country.”
“The news on Core inflation [excluding food and energy prices] was better than expected,” Gary Pzegeo, head of fixed income at CIBC Private Wealth US, said in a statement.
The Dow Jones Industrial Average fell about 5% between the end of March and the beginning of April as economists and investors fretted over whether or not progress on inflation had stalled.
“Following three months of inflation upsets, the April report put a soft landing and 2024 rate cut back in investors’ sights,” Julia Pollak, ZipRecruiter’s chief economist, said in a statement.
Publicly traded American companies aren’t seeing it, as corporate earnings expectations move steadily higher," Bankrate analyst James Royal said in a statement.
The original article contains 729 words, the summary contains 174 words. Saved 76%. I’m a bot and I’m open source!
deleted by creator