Stock market today: Wall Street rallies to records after inflation slows

A person passes an entrance to the Wall Street subway station in New York on Wednesday, May 15, 2024. Trading on Wall Street is muted early ahead of the U.S. government's latest reports on inflation and retail sales. Hopes that inflation is finally heading back in the right direction swept through Wall Street Wednesday and ignited a record-setting rally for U.S. stocks.

Homebuilders were strong on hopes that cuts by the Fed could lead to easier mortgage rates, with Lennar, D.R. Horton and PulteGroup all rallying more than 5%. Big Tech and other high-growth stocks also rode the wave of expectations for lower rates, and Nvidia’s gain of 3.6% was the strongest force pushing the S&P 500 upward.

“There was a lot lying on today’s CPI print to prove that disinflation was simply delayed these last three months and not derailed,” according to Alexandra Wilson-Elizondo, co-chief investment officer of the multi-asset solutions business in Goldman Sachs Asset Management. That could threaten one of the main hopes that's rallied the U.S. stock market toward its records: The Federal Reserve can pull off the balancing act of slowing the economy enough through high interest rates to stamp out high inflation but not so much that it causes a bad recession.

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Stock market today: Asian markets follow Wall Street higher ahead of key inflation updateAsian stocks have advanced after a rally on Wall Street took the Nasdaq composite to a record high.
Herkunft: wjxt4 - 🏆 246. / 63 Weiterlesen »

Stock market today: Asian markets follow Wall Street higher ahead of key inflation updateAsian stocks have advanced after a rally on Wall Street took the Nasdaq composite to a record high. U.S. futures and oil prices also gained. Markets in Hong Kong and Seoul were closed for holidays. Investors were reviewing a mixed report on inflation and awaiting an even more important update on consumer prices later Wednesday.
Herkunft: AP - 🏆 728. / 51 Weiterlesen »

Stock market today: Asian markets follow Wall Street higher ahead of key inflation updateAsian stocks have advanced after a rally on Wall Street took the Nasdaq composite to a record high.
Herkunft: ksatnews - 🏆 442. / 53 Weiterlesen »

Jim Cramer's top 10 things to watch in the stock market TuesdayU.S. stock futures are lower after wholesale prices in April rose more than Wall Street expected.
Herkunft: CNBC - 🏆 12. / 72 Weiterlesen »

Stock market today: Global shares are mixed in muted trading after Wall Street barely budgesGlobal shares are mixed in muted trading after U.S. shares finished little changed.
Herkunft: ksatnews - 🏆 442. / 53 Weiterlesen »