Treasury Yields Fall as CPI Keeps Fed Wagers Alive | Closing Bell [BhFez0AgRUA]
Watch comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec. Wall Street got a degree of relief as relatively tame inflation data spurred bigger bets on Federal Reserve rate cuts, with bond yields falling. While most stocks gained, weakness in tech giants kept a lid on the market. Treasury two-year yields dropped to their lowest level since 2022 as traders priced in higher chances the Fed will slash rates more than twice this year. About 370 shares in the S&P 500 rose, but the gauge closed little changed at the end of its worst week since November. A gauge of megacaps lost 1.1%. Amazon.com Inc. saw its longest slide in almost 20 years. The Russell 2000 index of small firms climbed 1.2%. Bitcoin jumped. The consumer price index rose 0.2% in January, the smallest gain since July and restrained by lower energy costs. While services costs picked up last month, prices of core goods remained stable. The core CPI rose from a year ago by the least since 2021. The overall gauge also eased on an annual basis. -------- Watch Bloomberg Radio LIVE on YouTube Weekdays 7am-6pm ET WATCH HERE: Follow us on X: Subscribe to our Podcasts: Bloomberg Daybreak: Bloomberg Surveillance: Bloomberg Intelligence: Balance of Power: Bloomberg Businessweek: Listen on Apple CarPlay and Android Auto with the Bloomberg Business app: Apple CarPlay: Android Auto: Visit our YouTube channels: Bloomberg Podcasts: Bloomberg Television: Bloomberg Originals: Quicktake: