Here's why the stock market is having such a massive rally today

Michael M. Santiago | Getty Imagesand instead focused on the longer-term prospects for economic growth, interest rates and inflation.

The 1.1% annualized increase for the first quarter would have been stronger had it not been for an inventories drag, while a stronger-than-expected inflation reading may have been front-loaded to the early part of the year and not representative of where prices are heading. "The data are setting the Fed up nicely for next week's meeting," LPL chief economist Jeffrey Roach said. "As growth and inflation slow, the Fed can legitimately transition to a pause and then perhaps an outright cut in rates by the end of the year if the economy deteriorates."

Following the release, traders solidified the chance for a quarter percentage point interest rate increase when the Federal Reserve meets next week. However, markets also still expect at least half a point worth of rate cuts before year-end and then much more aggressive reductions through 2024, according to the CME Group's

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

GDP report points to dreaded stagflation, but these stocks can still work in this environmentInvestors may want to prepare themselves for stagflation after Thursday's first quarter GDP report showed lackluster economic growth and high inflation.
Source: CNBC - 🏆 12. / 72 Read more »

Stock market today: Global shares up ahead of US GDP updateAsian shares mostly rose Thursday, despite lingering worries about the U.S. banking sector and inflationary pressures that weighed on investor sentiment.
Source: wjxt4 - 🏆 246. / 63 Read more »

5 things to know before the stock market opens ThursdayHere are the most important news items that investors need to start their trading day.
Source: CNBC - 🏆 12. / 72 Read more »

Wall Street investors recession bet may cause bond, stock market crashInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Source: BusinessInsider - 🏆 729. / 51 Read more »