Reported 7 months ago
US stocks surged to fresh records following a cooler-than-expected inflation report and the Federal Reserve's decision to maintain interest rates but revise projections for rate cuts in 2024. The S&P 500 and Nasdaq Composite reached record highs, with the Dow Jones Industrial Average slightly retreating. The Consumer Price Index remained flat month-over-month and rose 3.3% year-over-year in May, while the Fed forecasted just one rate cut for the year, citing 'modest' progress on inflation. Overall, markets reacted positively, anticipating future rate cuts amid an improving economic outlook.
Source: YAHOO