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Benzinga
Benzinga
Business
Henry Khederian

UWMC Stock Climbs As Inflation And Jobless Claims Fuel Fed Rate Cut Speculation

UWMC the Federal Reserve
West,Bangal,,India,-,April,20,,2022,:,Uwm,On

Shares of UWM Holdings Corp (NYSE:UWMC) are trading higher Thursday afternoon. The move comes as investors digest a mixed bag of economic data that points towards a potential interest rate cut by the Federal Reserve.

What To Know: This morning’s economic releases showed a surprising jump in jobless claims to 263,000, the highest level since 2021, signaling a potential cooling in the labor market. Simultaneously, the Consumer Price Index for August rose 2.9% year-over-year, with a monthly increase of 0.4%, exceeding expectations and indicating persistent inflationary pressures.

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