For stocks this was ‘the worst part’ of inflation report, says First Trust

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Major U.S. stock benchmarks remained down for the month on Wednesday, after a choppy trading session ended with mixed results as investors weighed the latest inflation report.

“The Federal Reserve may have gained some traction against inflation, but the inflation problem is far from finished,” said First Trust economists in a note Wednesday. “The worst part of today’s report was that real average hourly earnings declined 0.5% in August, taking a large bite out of consumer spending power.”


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