NEW YORK, June 13 — The S&P 500 and Nasdaq indexes hovered near record highs today, lifted by a jump in chip stocks after lower-than-forecast producer inflation data fanned...
The S&P 500 and Nasdaq indexes hovered near record highs today, lifted by a jump in chip stocks after lower-than-forecast producer inflation data fanned expectations of interest rate cuts from the Federal Reserve. — Reuters picNEW YORK, June 13 — The S&P 500 and Nasdaq indexes hovered near record highs today, lifted by a jump in chip stocks after lower-than-forecast producer inflation data fanned expectations of interest rate cuts from the Federal Reserve.
Separately, the number of Americans filing new claims for unemployment benefits increased to a 10-month high last week. “But we’re moving in the right direction and it speaks to the potential for a rate cut of most likely in September.” The technology sector led sectoral gains with a 1.6 per cent rise, while the energy sector was among the biggest decliners.
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