Particle.news
Download on the App Store
8 ARTICLES
·
2w ago

S&P 500 Reaches Record Close as Traders Reprice Fed-Cut Expectations

Traders reassess the likelihood of a near-term Fed rate cut following a hotter-than-expected inflation reading, as Treasury yields climb alongside big tech gains that mask uneven market breadth.

Image
Image
Image
Construction workers build homes at a new housing development in Henderson, Nev.

Overview

  • The S&P 500 rose 0.03% to 6,468.54 for a record close while the Dow and Nasdaq each dipped less than 0.1%.
  • A hotter-than-expected CPI reading prompted traders to question a September Fed rate cut and pushed 10-year Treasury yields higher.
  • The Dow closed within 1% of its December peak after gains in consumer and financial names such as Home Depot, Sherwin-Williams and UnitedHealth.
  • Mortgage refinancing applications have surged this year as 10-year Treasury yields remain below January levels near 4.245%.
  • Intel shares jumped over 7% on reports of a potential U.S. government stake, while Tapestry fell around 16% after warning of tariff-related profit headwinds.