Stock Market Today: S&P 500 closes above 5,600 for first time; inflation data eyed

Investing.com-- The S&P 500 closed above 5,600 for the first time Wednesday, led by tech and ongoing hopes for sooner rate as Fed Chair Jerome Powell delivered his second-day of testimony before Congress, a day ahead of fresh inflation data.Apple is aiming to ship 10% more new iPhone in 2024 compared with last year on expectations that AI-enabled iPhones would help spur demand, Bloomberg reported, citing unnamed sources.

The Fed chief, however, reiterated remarks from a day earlier, saying that"getting inflation down" wasn't the only risk and central bank needs to "be mindful of where the labor market is.”Economists expect CPI rose 0.1% month-over-month advance and a 3.1% year-on-year gain. Core CPI, which excludes energy and food prices, is expected to have risen 0.2% month over month and 3.4% year on year.

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: S&P 500 ends above 5,400 for first time despite hawkish FedStock Market Today: S&P 500 ends above 5,400 for first time despite hawkish Fed
Source: Investingcom - 🏆 450. / 53 Read more »

Stock Market Today: S&P500 ends above 5,500 for first time as record run continuesStock Market Today: S&P500 ends above 5,500 for first time as record run continues
Source: Investingcom - 🏆 450. / 53 Read more »

Stock Market Today: S&P500 in record close as weaker data stoke rate-cut betsStock Market Today: S&P500 in record close as weaker data stoke rate-cut bets
Source: Investingcom - 🏆 450. / 53 Read more »

Stock Market Today: S&P 500 slips after briefly topping 5,500 for first time everStock Market Today: S&P 500 slips after briefly topping 5,500 for first time ever
Source: Investingcom - 🏆 450. / 53 Read more »

Stock Market Today: S&P 500 gains as Amazon jumps to join $2T club for first timeStock Market Today: S&P 500 gains as Amazon jumps to join $2T club for first time
Source: Investingcom - 🏆 450. / 53 Read more »

Stock Market Today: S&P 500, Nasdaq clinch fresh records on Apple rally; Fed eyedStock Market Today: S&P 500, Nasdaq clinch fresh records on Apple rally; Fed eyed
Source: Investingcom - 🏆 450. / 53 Read more »