Reported about 1 year ago
Stocks rallied towards record highs, fueled by a chipmaker rally and optimism due to potential Federal Reserve rate cuts. The S&P 500 neared the historic 5,500 mark, propelled by Nvidia Corp.'s rise after a bullish analyst projected a significant market value increase. Mixed economic data including increased industrial production and stagnant retail sales indicated the need for the Fed to carefully consider rate adjustments. Stock market breadth remains narrow despite record highs, with most investors optimistic about US stocks benefiting from money-market fund reallocations.
Source: YAHOO