Reported 7 months ago
On June 12, 2024, the market saw significant movements driven by the May CPI report and the Federal Reserve keeping interest rates stable. Expert insights from BNP Paribas' Mark Howard highlighted that the inflation data was the main market influencer, triggering tech stock rallies, affecting Treasury yields positively, and potentially setting the stage for a rate cut in September. Despite the Fed hinting at a rate cut in December, the overall market responded positively, with Howard noting that expectations for rate cuts decreased, potentially leading to no cuts at all.
Source: YAHOO