⚠️BREAKING: *U.S. STOCKS JUMP ON PEAK INFLATION BETS AS WALL ST HEADS FOR BEST JANUARY SINCE 2019 - $DIA $SPY $QQQ 🇺🇸🇺🇸
NEW YORK - Major U.S. stock indexes rose on Tuesday as labor cost data encouraged investors about the Federal Reserve's aggressive approach to taming inflation a day ahead of the central bank's critical policy decision.) following their results capping gains on the Dow.
U.S. labor costs increased at their slowest pace in a year in the fourth quarter as wage growth slowed, Labor Department data showed. The U.S. central bank on Wednesday is expected to hike the Fed funds rate by 25 basis points, following a 2022 in which the Fed aggressively boosted rates to control soaring inflation.
"The fact that we have had goods inflation cooling, we have had housing cool, and the last shoe to drop is probably this labor services inflation – we may be getting early indications of that," said Mona Mahajan, senior investment strategist at Edward Jones.
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