Reported 7 months ago
US stock markets reached new record highs as the S&P 500 and Nasdaq soared following a cooler-than-expected inflation report and the Federal Reserve's decision to hold interest rates steady while reducing projections for cuts this year. The S&P 500 closed above 5,400, the Nasdaq Composite rose about 1.5%, and the Dow Jones Industrial Average gave up 0.1%. The Consumer Price Index (CPI) remained flat over the previous month and rose 3.3% over the prior year in May, beating economist expectations. The Fed held rates steady at multi-decade highs and predicted only one rate cut for the year, praising the CPI data while emphasizing caution in rate cuts.
Source: YAHOO