Posted 4/9/2024, 8:04:00 PM
Stocks Cautious Ahead of Inflation Data That Will Shape Rate Outlook
- US stocks closed mixed Tuesday ahead of Wednesday's critical CPI inflation report, seen as pivotal for interest rate outlook
- Fading hopes for rate cuts helped push 10-year Treasury yield near 5-month highs, sparking concerns for impact on housing
- Atlanta Fed president Bostic said inflation decelerating "very slowly"; doesn't expect rate cuts until Q4 at earliest
- Continued services inflation sticking points like rising shelter and transportation costs could delay rate cuts further
- Earnings season kicks off Friday; investors eye potential rotation to economic-sensitive sectors showing rebound signs