Investing.com -- The S&P 500 closed above 5,400 Wednesday as the Fed's outlook for fewer cuts were overshadow by data showing inflation cooled more than expected in May, stoking optimism that the disinflation trend remains intact.on Wednesday, but now sees just one rate cut for the year, as inflation is expected to trend higher than previously expected.
"The shifts in the projections of the Fed's SEP are more hawkish than we anticipated," Economists at Jefferies said in a Wednesday note following the decision.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock Market Today: S&P 500, Nasdaq in record close ahead of Nvidia earningsStock Market Today: S&P 500, Nasdaq in record close ahead of Nvidia earnings
Source: Investingcom - 🏆 450. / 53 Read more »
Stock Market Today: S&P 500 ends lower as Fed minutes flag inflation jittersStock Market Today: S&P 500 ends lower as Fed minutes flag inflation jitters
Source: Investingcom - 🏆 450. / 53 Read more »
Stock Market Today: S&P 500 snaps win streak as rising yields steal Nvidia's shineStock Market Today: S&P 500 snaps win streak as rising yields steal Nvidia's shine
Source: Investingcom - 🏆 450. / 53 Read more »
Stock Market Today: S&P 500 slumps as Salesforce leads tech wreck; inflation eyedStock Market Today: S&P 500 slumps as Salesforce leads tech wreck; inflation eyed
Source: Investingcom - 🏆 450. / 53 Read more »
Stock Market Today: S&P 500, Nasdaq in record high on Nvidia rally, rate-cut betsStock Market Today: S&P 500, Nasdaq in record high on Nvidia rally, rate-cut bets
Source: Investingcom - 🏆 450. / 53 Read more »
Stock Market Today: S&P 500 ends just lower as May jobs report loomsStock Market Today: S&P 500 ends just lower as May jobs report looms
Source: Investingcom - 🏆 450. / 53 Read more »