The SPDR S&P 500 ETF Trust (NYSE: SPY) was volatile Friday, gapping up to start the trading session before ran into sellers who caused the market ETF to drop half a percentage point intraday after data released from the University of Michigan showed inflation
The preliminary estimates for the University of Michigan consumer sentiment index as high interest rates and persistent price pressures wreak havoc on U.S. consumer morale.
If the debt ceiling dispute triggers an abrupt risk-off in financial markets, the Federal Reserve will then resume quantitative easing, as the Bank of England did in September, said Bank of America chief investment strategist Michael Hartnett in a recent report.&
The number of Americans registering for unemployment benefits in the week ending May 6 rose by 22,000 to 264,000, above the expected 242,000, the U.S. Labor Department reported Thursday.