The SPDR S&P 500 ETF Trust (NYSE: SPY) traded lower Friday after the latest reading of consumer confidence suggests rising prices and economic uncertainty are not negatively impacting U.S. consumers.
The SPDR S&P 500 ETF Trust (NYSE: SPY) traded lower Friday morning after the Labor Department reported blowout U.S. jobs market numbers from January.
What Happened: The U.S. added 517,000 jobs last month, well above average economist estimates of 187,000 jobs.
Wharton Professor of Finance Jeremy Siegel has been beating the drum on inflation in recent months, urging the Federal Reserve to cast aside lagging indicators.
Now that consumer prices are coming down, he says there's only one indicator left standing between the Fed and a pause.
The SPDR S&P 500 (NYSE: SPY) initially moved lower before reversing and turning positive after the Federal Reserve on Wednesday raised its benchmark rate by 0.25%, marking the central bank's
-South China Morning Post
https://www.scmp.com/economy/global-economy/article/3208611/taiwans-export-orders-down-23-cent-china-and-hong-kong-lead-decline-despite-reopening?module=live&pgtype=homepage
As the market digests the positive economic data issued Thursday, investor eyes are turned to the Friday release of the Personal Consumption Expenditures (PCE) price index data for December.