But the highest rates in more than two decades have yet to do that with great effect. High rates are supposed to slow the economy and hurt the job market, which should ultimately help undercut inflation. households to keep spending, which encourages companies to try to push prices up further. That’s why strong economic reports recently have unsettled the market. Inflation has been generally cooling since peaking above 9% last summer, but the worry is the last bit of improvement to get to the Fed’s 2% target may prove the most difficult. Economists expect it to show prices at the consumer level were 3.6% higher in August than a year earlier.
#Nyse stem news update
The centerpiece is likely the latest monthly update on inflation in the United States, due on Wednesday. The upcoming week could be a busier one for markets globally. Kroger also announced an agreement where it would pay more than $1.2 billion to settle the majority of claims related to opioids that could be brought against it by states, subdivisions and Native American tribes. The company announced with Albertsons an agreement to sell some stores, private-label brands and other assets as they try to get approval from regulators for their proposed merger. The grocer's results for the latest quarter topped analysts' expectations, but its revenue fell short of expectations. Kroger climbed 3.1% following its earnings report. The summer is usually a lean season for the company, but its sales rose 35% from a year earlier. Smith & Wesson Brands jumped 10.8% after the gun maker reported stronger results for the three months through July than analysts expected.
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