Reported 8 months ago
US stocks remained near record highs as the S&P 500 and Nasdaq hovered close to all-time highs. Retail sales data for May showed a slower-than-expected increase, indicating consumer strain due to high interest rates and persistently stubborn inflation. This comes as tech stocks lead an AI-driven rally, with Wall Street banks raising their S&P targets and Fed officials signaling a potential rate cut in 2024. Apple discontinuing its buy now, pay later service and Lennar's margin outlook also influenced market sentiment.
Source: YAHOO