Markets can feel as though they are locked in a constant state of disarray, bond yields are rising and stocks are retreating, and the barometer of price pressures in the US economy is uncomfortably and stubbornly high.
On Tuesday, August data showed the consumer price index, a closely watched measure of inflation, was up 8.3% from the same month a year ago.
check out: Dow falls nearly 1,300 points on index’s worst day since June 2020 as heated inflation report sends stocks skidding
The annual increase in the basic rate of inflation, which isolates some of the commodities whose prices are considered the most volatile, rose from 5.9% to 6.3%, which underscores the degree to which inflation has increased in the economy. This poses a problem for central bankers and comes as the Federal Reserve, which calls its two-day meeting next Tuesday, continues in its quest to ease pricing pressures driven by the pandemic.
Notably, food prices have been rising at their fastest rate since 1979, dealing a blow to the common consumer.
Inflation data found blame on Tuesday as the blue-chip Dow Jones Industrial Average (DJIA)
fell nearly 1,300 points, and the S&P 500 SPX,
and Nasdaq Composite Comp,
Absorbed losses that were even more dramatic on a percentage basis, while the 2-year return TMUBMUSD02Y,
and 10 years old TMUBMUSD10Y,
Treasuries were rising, along with falling prices, in anticipation of a larger upcoming hike in benchmark interest rates.
Any doubt that the Fed will go big with its next rate move has now vanished.
Above all, bitcoin BTCUSD,
With the US Dollar DXY, along with other cryptos and other assets considered risky, is certainly trading lower,
There has been a resurgence, estimated by an index tracking the greenback against half a dozen major currencies.
Against that backdrop, MarketWatch is set to host its first major conference next week. Best New Ideas at the Money Festival in New York Hundreds of investors and market participants will be watching together – and thousands of others participating from afar – to seek advice from experts and gain insight on the best new ideas for you and your money now and in the future.
On September 21 and 22, participants of the festival will delve into everything from crypto to cannabis, from hot trading to space travel, with workshops, led by trusted experts, all aimed at providing practical advice.
We’ll chat with investment giants like Ray Dalio, founder and co-chief investment officer of Bridgewater Associates, the world’s largest hedge fund. Veteran investor Carl Icahn will be on hand to share his thoughts on the economy and the market, as will Jennifer Grancio, CEO of Engine No. 1, the investment firm that beat Exxon Mobil Corp.
Last year in a historic proxy fight. We have Josh Brown of Ritholtz Wealth Management and Michael Batnick of Talking Markets and Nancy Davis, founder of Quadratic Capital Management, demystifying options strategies.
People who do this one thing every day have half the risk of dementia that the rest of us have
Best New Ideas in Money began as an exclusive periodical series of articles on MarketWatch that centered around innovations in finance and money, and it quickly became a franchise, including a weekly podcast that explores how How Money Can Be a Source for Good—and, Now, It Festival of money
We can’t promise that attendees will be wealthier, but those who attend find that they see the festival more informed and more empowered to be masters of their own finances.
Credit: www.marketwatch.com /