Local stocks started the second quarter of 2024 in an upbeat note on the back of positive economic news from the US and China.
“These reinforced bets that the Federal Reserve is on track to cut interest rates as soon as June this year.,” Colet said. The Dow and S&P 500 ended at records Thursday, with the latter chalking up its best first quarter since 2019. He said that while the recent inflation data was higher than the Fed would have liked, the February figures were “definitely more along the lines of what we want to see”.
Gold hit a record high of $2,265.73, according to Bloomberg News, extending the year’s rally fueled by US central bank hints at an easing of credit conditions.
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