Wall Street rallies to records after inflation slows

The Standard & Poor's 500 jumped 1.2% to top its prior high set a month and a half ago. The Nasdaq composite added 1.4% to its own record set a day earlier, and the Dow Jones industrial average gained 349 points, or 0.9%, to beat its all-time high set in March. Relief came from the bond market, where Treasury yields eased to release some of the pressure on the stock market.

Slowing growth in retail sales could be seen as a positive for markets, because it could reduce the upward pressure on inflation. But a stalling out also raises worries about cracks forming in U.S. consumer spending, which has been one of the main pillars keeping the economy out of a recession. Pressure has grown particularly high on lower-income households.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Wall Street IG Client Sentiment: Our data shows traders are now net-long Wall Street for the first time since Nov 02, 2023 when Wall Street traded near 33,825.70.Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Wall Street-bearish contrarian trading bias.
Source: DailyFX - 🏆 305. / 63 Read more »

It's been a great run for Wall Street, but Main Street is feeling left outSmall business owners across the country say a 2024 economy and stock market that have been chugging along have left them behind.
Source: nbcsandiego - 🏆 524. / 51 Read more »