in its bid to crush inflation, potentially bringing on a recession. The index has bounced about 10 per cent from its October lows but remains down more than 17 per cent on the year.
That includes a Sept. 13 inflation release that sparked a 4.3 per cent sell-off and a Nov. 10 report showing softer-than-expected inflation that fuelled a 5.5 per cent rise and helped stocks extend their latest rally. A second helping of benign data could bolster the case for a peak in inflation and buoy equities further.
Also key will be Fed Chairman Jerome Powell’s views on inflation and the possibility that the economy can slip into recession next year – an idea that has filtered into asset prices and dominated investor thinking lately. Some believe a hefty amount of cash on the sidelines and seasonal factors could help invigorate the stock rebound if inflation is weaker than expected or investors like what the Fed has to say.
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