Reported 7 months ago
US stocks ended the week higher after a cool May inflation report and Apple's announcement of its AI ambitions. The Nasdaq 100 closed at record highs due to excitement over AI and strong earnings from Broadcom and Adobe. The Federal Reserve hinted at potential interest rate cuts if inflation continues to decrease. The S&P 500 and Nasdaq 100 hit record highs, while the Dow Jones finished slightly down. The market anticipates a 61% chance of a rate cut at the September FOMC meeting. In other news, Elon Musk's $50 billion pay package was approved, Tesla could reach a $30 trillion valuation, and other stocks like Broadcom are seen as potential trillion-dollar companies.
Source: YAHOO