CNBC Daily Open: Investors shrugged off a hawkish Fed and hot PPI
Publishing timestamp: 2023-10-11 19:56:34
Summary
Federal Reserve officials were divided on the need for additional interest rate increases, but agreed that policy should remain restrictive. Producer prices increased more than expected, but still below August's increase. U.S. markets rose for the fourth consecutive session. Exxon Mobil has agreed to buy Pioneer Natural Resources for $59.5 billion. The Securities and Exchange Commission's actions are a topic of discussion at a conference. Despite the mixed economic indicators, investors remain optimistic.
Sentiment: MIXED
Tickers: .DJI, MC-FR, .SPX, PXD, XOM, .IXIC,
Keywords: producer prices, prices, exxon mobil corp, s&p 500 index, dow jones industrial average, interest rates, inflation, business news, nasdaq composite, world markets, united states, oil and gas, pioneer natural resources co, lvmh moet hennessy louis vuitton se, markets, federal reserve bank,
Source: https://www.cnbc.com/2023/10/12/stock-markets-investors-shrugged-off-a-hawkish-fed-and-hot-ppi.html