US STOCKS-Wall Street rallies on crude price jump, economic data

us stocks wall street rallies on crude price jump economic data

Sumary of US STOCKS-Wall Street rallies on crude price jump, economic data:

  • ) (Updates to market close)NEW YORK, Sept 15 (Reuters) – U.S. stocks ended higher on Wednesday as surging crude prices boosted energy shares and a swath of positive U.S. data suggested inflation has crested and the economic recovery remains robust, prompting a broad rally.
  • Import prices posted their first monthly decline since October 2020, in the latest sign that the wave of price spikes has crested, further supporting the Federal Reserve’s position that current inflationary pressures are transitory.
  • U.S.-listed Chinese stocks extended recent losses, as weak retail sales data pointed to a possible economic slowdown in the mainland, while Beijing’s regulatory overhaul of Macau’s casino industry further dampened appetite for Chinese stocks.
  • U.S.-based casino operators Las Vegas Sands Corp, Wynn Resorts Ltd and MGM Resorts International closed lower.

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