(Bloomberg) — The stock market is ending the week on a sour note after disappointing US economic data, with traders also shunning riskier assets amid worries that a political crisis in France is deepening.
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US equities trimmed this week’s rally as a gauge of consumer sentiment unexpectedly fell to a seven-month low as high prices continued to take a toll on views of personal finances. While the market continued to price in about two rate cuts this year, Federal Reserve Bank of Cleveland President Loretta Mester said she would like to see a few more months of good inflation data before considering easing policy.
“While we on Wall Street obsess about the inflation rate of change, many consumers could care less and are still struggling with the cumulative rise relative to their wage growth,” said Peter Boockvar the Boock Report. “The bottom line is simply…
