Dow, S&P 500, Nasdaq notch record close as cooling inflation boosts rate-cut hopes
Investing.com - The Dow, S&P 500 and the Nasdaq closed at record highs Wednesday, as consumer inflation cooled more than expected following three months of upside surprises, boosting hopes for sooner rate rates and sending Treasury yields sharply lower.slowed to 0.3% pace in April from 0.4% a month earlier, slower than the 0.4% pace economists had expected, boosting hopes that the disinflation trend is back on track. That took the annual figure to 3.4%, down from a 3.5% pace.
But on the heels of the hot producer price report, a "cooler-than-expected consumer price report has immediately eased concerns of rapidly rising inflation, fueling investors’ hopes for rate cuts in the coming months," Stifel said in a Wednesday note. "Despite anticipation of next-generation Blackwell GPUs in the 2H, we see limited signs of a demand pause KeyBanc Capital market said in a note. The bullish remarks come just a week ahead of the chipmaker's quarterly results due May 22.) fell 2% after the Department of Justice said the airplane manufacturer violated a settlement that prevented it from from facing criminal prosecution related to two fatal 737 Max crashes.
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