Reported about 1 year ago
US stocks closed at record highs as investors absorbed positive May inflation data and the Federal Reserve's update on potential rate cuts. The S&P 500 reached a historic close above 5,400 for the first time, while bond yields fell. Inflation for May was lower than expected, and the Fed acknowledged progress while revising its outlook to include fewer anticipated rate cuts. The central bank now projects only one rate cut by the end of 2024, down from earlier expectations of three cuts. Markets remain optimistic about future monetary policy adjustments.
Source: YAHOO