Stock market today: S&P 500 breaches 5,300 as stocks rally to records after CPI

US stocks rallied on Wednesday, with all three major indexes closing at record highs as a soft reading on consumer prices fueled hopes that the Federal Reserve could cut interest rates sooner than expected. The S&P 500 rose nearly 1.2%, closing at 5,308.18, above 5,300 for the first time ever. The Dow Jones Industrial Average jumped about 0.9%, or almost 350 points, creeping closer toward the 40,000 level. The tech-heavy Nasdaq Composite climbed about 1.

35%, its lowest level in a month, and sparked new bets on Fed rate cuts as soon as September. According to the CME FedWatch Tool, around 70% of traders now expect at least one cut by the September meeting, a notable increase from a week ago. Stocks have ground higher amid rekindled confidence that the US economy is in good enough shape for the Federal Reserve to start bringing down rates from their current historic highs. That optimism has fueled a resurgence in bullishness in the market.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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

Stock market today: Dow nabs 8th straight winning session, S&P 500 marches back toward record highInvestors are listening out for a parade of Fed speakers to test a growing confidence that a rate cut is on the way.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Asian shares trade higher after Wall St rally takes S&P 500 near recordTOKYO (AP) — Stocks in Asia traded higher Friday after a rally on Wall Street that pulled the S&P 500 back within 1% of its record. Benchmarks rose in Tokyo,...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Wall Street rises to pull S&P 500 back within 1% of its recordNEW YORK (AP) — U.S. stocks rose to pull the S&P 500 back within 1% of its record following a rough April. The index climbed 0.5% Thursday. The Dow Jones Industrial Average rose 0.8%, and the Nasdaq composite gained 0.3%.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Dow pops for 7th straight day as S&P 500 climbs back above 5,200Stocks have lost their bounce after a growing chorus of Federal Reserve officials made it clear that interest rates will need to stay higher for longer.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: S&P 500 rises for 4th day, Disney sinks 9% after earningsResults from Disney took center stage as the media giant posted the first profit for a key part of its streaming business.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »