US Markets React Positively to Cooling Inflation Data
Key inflation metrics meet expectations, raising hopes for potential Federal Reserve rate cuts later this year.
Overview
- S&P 500 and Dow Jones Industrial Average saw gains, while Nasdaq remained flat.
- April's Personal Consumption Expenditures report showed inflation rising 2.7% annually, matching forecasts.
- Consumer spending growth slowed, indicating potential economic cooling.
- Financial markets are pricing in a higher chance of a rate cut by the Federal Reserve by September.
- Energy stocks rose, while information technology shares fell on mixed trading results.