About: http://data.cimple.eu/news-article/f739babf8afc56bb0095a88e8b31ffcd48c95b68da114d9fcb0063d5

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About: http://data.cimple.eu/news-article/f739babf8afc56bb0095a88e8b31ffcd48c95b68da114d9fcb0063d5 Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	US stock indices were solidly higher on Friday, after government data showed no sign of rising inflation in February, soothing traders who feared government stimulus would cause the economy to overheat. Bank stocks rose following the Federal Reserve's announcement after trading finished on Thursday that most financial institutions could resume share buybacks and dividend payouts after June 30. About 20 minutes into trading, the benchmark Dow Jones Industrial Average was up 0.4 percent at 32,739.99, and the broad-based S&P 500 0.4 percent higher at 3,925.69. The tech-rich Nasdaq Composite Index gained 0.4 percent to 13,028.05. Commerce Department data released before markets opened showed income declining 7.1 percent in February and spending falling a more-than-expected 1.0 percent, as the effects of stimulus checks mailed out in February wear off. "The key takeaway from the report is that spending decreased more than expected, indicating an inclination among consumers to continue saving," Patrick O'Hare of Briefing.com said, noting that the savings rate retreated to 13.6 percent, about where it was before the checks were mailed out. The data showed prices grew less than expected at 0.2 percent, which was 1.6 percent higher than February 2020, easing fears that government stimulus measures would cause inflation and force the Federal Reserve to raise interest rates sooner than expected. The Fed's move to cut its benchmark lending rate to zero has helped equities rebound even as the wider US economy suffered over the past year. Bank stocks climbed after the central bank announced it was loosening capital distribution restrictions imposed during the pandemic, with Wells Fargo gaining 1.6 percent, Bank of America 1.9 percent, JPMorgan Chase 1.1 percent and Goldman Sachs 0.9 percent. Microsoft was up 0.4 percent amid reports it is a contender to buy chat platform Discord. cs/ft
schema:headline	Wall Street gains after data show no sign of inflation
schema:mentions	O'Hare International Airport S&P 500 Index JPMorgan Chase Dividend Stock Wells Fargo Dow Jones Industrial Average Patrick Star Goldman Sachs Federal Reserve Inflation Microsoft Pandemic Orbital inclination Schism Stock market index United States Department of Commerce NASDAQ Composite
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-03-26 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	58 (xsd:integer)

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