US stocks rebound after lower inflation calms Fed rate fears
Business
US stocks bounced back this Wednesday after new inflation numbers came in lower than expected, calming fears of another Fed rate hike next month.
The S&P 500 recovered from September's dip, and short-dated Treasury yields fell, while longer-dated yields rose, signaling investors are feeling less anxious.
Now, chances of a Fed rate hike have slipped below 40%.
US spending rises, 90,000 jobs expected
Americans spent more in August than they have in over a year, giving the economy a boost even with prices still high.
Job growth is also picking up, with around 90,000 new jobs expected soon.
As Bret Kenwell at eToro put it, "Friday's jobs report and next month's earnings season should offer more insight into whether that resilience is holding up."