Reported 12 months ago
US stock market remained flat as Federal Reserve's preferred inflation gauge showed easing inflation, signaling a possible rate cut. S&P 500 inched closer to its record high while Nasdaq Composite slipped and Dow Jones gained slightly. The prospect of a rate cut was further solidified by the cooling inflation, with data showing prices increased at a slower pace in May. Furthermore, Bank of America warned of a 'lock-in' effect in the housing market due to low supply, keeping the market stagnant until 2026.
Source: YAHOO