Tech Stocks Surge Despite Fed's Cautious Stance

Nasdaq hits record highs as inflation data boosts market sentiment; industrial sectors lag behind.

Nasdaq achieved its fifth consecutive record close, driven by tech sector strength, particularly AI advancements.
The S&P 500 also saw significant gains, while the Dow Jones Industrial Average declined due to industrial sector performance.
Recent inflation reports showed lower-than-expected CPI and PPI numbers, increasing market optimism for future rate cuts.
The Federal Reserve maintained current interest rates but hinted at potential rate cuts in 2024, aligning with market expectations.
Consumer sentiment remains low despite positive inflation data, reflecting ongoing public concern over economic conditions.