Tuesday’s Midday Movers: 3 Stories Driving Markets
The major U.S. stocks were dipping Tuesday as investors awaited Fed Chairman Ben Bernanke’s monetary policy report Wednesday. As of noon:
|DIJA: -0.27% to 15442.48||S&P 500: -0.47% to 1674.51||NASDAQ: -0.40% to 3593.24|
|Gold: +4.56% to 67.585||Oil: -0.27% to 24.84||U.S. 10-Year: -0.82% to 25.35|
Here are three stories helping shape the market Tuesday afternoon:
1. Gasoline Drives Consumer Prices Up: Is Inflation Heating Up? Inflation has become a trouble spot for the U.S. Federal Reserve. As measured by the personal consumption expenditures index — the Fed’s preferred gauge — consumer price inflation has run at just over 1 percent during the past 12-month period, down substantially from about 2.25 percent in the preceding 12-month period, and missing the Fed’s target rate of 2 percent.
Investors have always had one eye glued to inflation because of its effects on interest rates, as well as its broader impact on the purchasing power of consumers… (Read more.)