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The Nasdaq-100 index is holding above 18,000 today following yesterday's bullish momentum, fueled by inflation news.
The Nasdaq-100 index is holding above 18,000 today following yesterday's bullish
momentum, fueled by inflation news.
The PCE consumer spending index amounted to 0.4% on a monthly basis, which was
in line with analysts' expectations. A year ago, we recall, it was 0.6%. Thus,
statistics indicate a weakening of inflation which means that the likelihood of
the Fed cutting interest rates increases — the anticipation of this event
increases optimism in the stock market.
Another driver is the strong
S&P 500 and Nasdaq hit record highs on tech gains and inflation
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Tech stocks and calm bond market drive gains for Wall Street
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