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Morning Report 13 Jun 24: Inflation relief pushes Wall Street to record highs
Manage episode 423261605 series 3531694
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US stocks surged to record highs due to lower-than-expected inflation figures, leading to optimism in the market. The S&P 500 and the NASDAQ were up, while the Dow Jones lagged slightly. Inflation data showed minimal monthly increases, the slowest since August 2021, suggesting progress in controlling inflation. The Federal Reserve maintained interest rates but hinted at fewer rate cuts in 2024, causing mixed reactions in the market. European markets also saw gains, driven by improved US inflation data, although some local challenges persisted. Meanwhile, Australian shares are expected to rise ahead of crucial jobs data, reflecting global economic trends.
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