S&P 500 Tops 5,300 in Record-Breaking Stock Rally: Markets Wrap
- Core CPI cools for first time in six months in relief for Fed
- US retail sales stall after downward revisions in prior months
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Wall Street traders sent stocks to all-time highs as bond yields slumped after an inflation slowdown reinforced bets the Federal Reserve will cut interest rates as early as September.
The S&P 500 notched its 23rd record in 2024 as data showed the consumer price index cooled for the first time in six months. Wall Street’s “fear gauge” — the VIX — sank to the lowest since January. Treasuries climbed across the US curve. Fed swaps priced in a faster pace of policy easing this year. The dollar fell against all of its developed-market peers.