Stock market today: Stocks eye record highs as cooler inflation revives Fed rate cut hopes

US stocks rose on Wednesday, eyeing fresh record highs as a soft reading on consumer prices fueled hopes that the Federal Reserve could cut interest rates sooner than expected. The S&P 500 rose 0.9% while the Dow Jones Industrial Average jumped about 0.6%. The tech-heavy Nasdaq Composite climbed about 1% after hitting a record close on Tuesday. All three major averages were set to close near or at all-time highs. The Consumer Price Index rose 0.3% over the previous month and 3.

According to the CME FedWatch Tool, around 70% of traders now expect at least one cut by the September meeting, a notable increase from a week ago. Stocks have ground higher amid rekindled confidence that the US economy is in good enough shape for the Federal Reserve to start bringing down rates from their current historic highs. That optimism has fueled a resurgence in bullishness in the market.

Source: News Formal (newsformal.com)

Record Highs Nasdaq Composite

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks open lower ahead of Fed's rate decision on WednesdayUS stock market indexes (^DJI, ^IXIC, ^GSPC) open Tuesday's session lower as equities are listening closely to the Federal Reserve's interest rate decision...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Stocks gain as Fed rate hopes fuel continued rallyStocks rallied at the end of last week, getting a boost from a 'Goldilocks' jobs report.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Stocks end mixed in volatile session after Fed decision, Powell commentsFed day arrives with the focus on what clues Powell will offer to the chances for rate cuts this year.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Stocks rally after Fed decision as Powell soothes rate nervesFed day arrives with the focus on what clues Powell will offer to the chances for rate cuts this year.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Market movers: Stocks seeing action on WednesdayA survey of North American equities heading in both directions
Source: globeandmail - 🏆 5. / 92 Read more »

Market movers: Stocks seeing action on WednesdayA survey of North American equities heading in both directions
Source: globeandmail - 🏆 5. / 92 Read more »