Redwire - The space infrastructure stock soared 11.6% Wednesday after Roth MKM initiated research coverage of the company with a buy rating.
CNBC's Jeff Cox contributed to this report.Ĭorrection: An earlier version misstated the day Adobe reports earnings.Ĭheck out the companies making headlines in midday trading. Fed funds futures pricing data as of Wednesday afternoon indicate a 97% probability of rates remaining the same, according to the CME FedWatch Tool. Wall Street has mostly priced in a pause in rate hikes at the Fed's meeting next week. "If they act, it will be in November," Reinhart added.
And that's because they've shifted down the pace of tightening." Market participants do not expect action. "It doesn't matter for the upcoming FOMC meeting's results. "This report interrupts the run of good news makes it more difficult to talk a happy game about inflation," said Vincent Reinhart, chief economist at Dreyfus and Mellon. Economists surveyed by Dow Jones were looking for respective increases of 0.6% and 3.6%. Meanwhile, the headline numbers rose 0.6% last month, and was up 3.7% from a year ago. Federal Reserve officials focus more on the core number as it provides a better indication of where inflation is heading over the long term. Amazon shares hit their highest level since August 2022 they advanced more than 2.5%.Īugust's core inflation print in the consumer price index increased 0.3% and 4.3% respectively, against estimates for 0.2% and 4.3%. Tesla shares gained 1.4% after billionaire investor Ron Baron stood by his bullish thesis on the electric vehicle maker. On the other hand, tech gains helped to lift the S&P 500 and Nasdaq. Meanwhile, Apple shares declined more than 1%, falling for a second day. Personal Loans for 670 Credit Score or LowerģM was the biggest laggard in the 30-stock Dow, dropping more than 5.7%. Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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