The Economic Timesยท2025-09-12 01:51Economic Indicators - Initial jobless claims for the week ended September 6 reached 263,000, marking a near four-year high [1] - U.S. consumer prices rose more than expected in August, with the annual increase in inflation being the largest in seven months [9] Federal Reserve Expectations - Atsi Sheth, Chief Credit Officer at Moody's Ratings, predicts the Federal Reserve will reduce interest rates by 25 basis points next week and another 25 basis points by year-end [2] - Futures trading indicates a strong expectation that the Fed will cut rates by at least 25 basis points at its upcoming policy meeting, with a 7% chance of a deeper 50 basis point cut [2] Stock Market Performance - The S&P 500 climbed 0.85% to close at 6,587.47 points, while the Nasdaq gained 0.72% to 22,043.08 points, and the Dow rose 1.36% to 46,108.00 points [7][9] - Tesla's stock increased by 6%, contributing to record highs for the S&P 500 and Nasdaq [5][9] - Micron Technology's shares jumped 7.5% to $150.55 after Citigroup raised its price target from $150 to $175 [6][9] - Warner Bros Discovery surged 29% following reports of a potential majority cash bid from Paramount Skydance [6][9] Sector Performance - Ten of the 11 S&P 500 sector indexes rose, with materials leading at a 2.14% increase, followed by a 1.73% gain in health care [10] - Centene's stock jumped 9% after reaffirming its annual profit forecast and meeting quality ratings expectations for its Medicare plans [10] Market Activity - Advancing issues outnumbered declining ones in the S&P 500 by a ratio of 6.8-to-one [8][10] - The S&P 500 recorded 42 new highs and 4 new lows, while the Nasdaq saw 143 new highs and 42 new lows [8][10] - Heavy trading volume on U.S. exchanges reached 18.2 billion shares, compared to an average of 16.1 billion shares over the previous 20 sessions [8][10]