Wall Street somewhat rebounded from a disaster on Tuesday, as main stock indexes grew over 1%. Investors searched for bargains after a global stock selloff and panic of a possible recession occurred on Monday.
Wall Street’s main indexes plummeted on Monday, as fears are continuing to grow that the United States is going into a recession following last week’s economic numbers ripping through global markets.
U.S. job growth slowed more than expected in July, with the unemployment rate increasing 4.3%, leading to fears that the labor market is faltering and the economy is heading for a possible recession.
A new report has revealed that the number of jobless claims has reached the highest in 10 months.
U.S. monthly inflation was unchanged in May as a modest increase in the cost of services was offset by the largest drop in goods prices in six months.
The mixed survey also showed consumers’ perceived likelihood of a recession over the next 12 months retreated this month.
Harry Dent, the outspoken financial author and economist, is not reversing course from his bold “crash of a lifetime” declaration from this past December.
The number of Americans filing new claims for unemployment benefits fell slightly more than expected last week.
U.S. employers hired more workers than expected in December while raising wages at a solid clip.
The Federal Reserve’s long-term objective for U.S. inflation was persistently exceeded in November, with 3.1% growth, supporting central bankers’ arguments to maintain current interest rates this spring.