Inflation Cools In May, Fed Hints At Slower Pace Of Rate Cuts, Stocks Hit New Record Highs: This Week In The Market

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Despite Federal Reserve Chairman Jerome Powell‘s emphasis on the need for higher confidence on inflation and the Fed’s updated median projections indicating only one interest rate cut in 2024, investors are increasingly hopeful that rate cuts will begin in ...

In a week filled with market anticipation due to the release of May inflation data and the Federal Reserve Open Market Committee meeting on the same day, Wall Street demonstrated remarkable resilience, navigating these pivotal tests with confidence.

The S&P 500 and Nasdaq 100 indices both achieved record highs on four consecutive days, driven by the advance of tech titans such as Apple Inc.(NASDAQ:AAPL), Nvidia Corp.(NASDAQ:NVDA) and Microsoft Corp.(NYSE:MSFT).

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Article Details

Author / Journalist: Piero Cingari

Category: Technology

Markets: United States

Topics: US36467W1099 MSFT US5949181045 Economics Expert Ideas Small Cap AAPL Tech Benzinga ETFs GME Federal Reserve Broad U.S. Equity ETFs Equities Large Cap US67066G1040 Stories That Matter Econ #s Markets NVDA Top Stories US0378331005 Sector ETFs

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-14 @ 20:06:26 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 398 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 21256159

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