Stocks Rise on Hopes Inflation Pressures Will Ease: Markets Wrap
- US consumers tempered inflation expectations in late May
- Waller says he still thinks neutral rate is relatively low
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Stocks rose after data showed American consumers tempered inflation expectations, bolstering sentiment regarding prospects for Federal Reserve rate-cuts this year.
The S&P 500 rebounded after a two-day slide. When traders come back from the holiday weekend, the “T+1” rule will come into effect — making US equities settle in one day rather than two. Treasuries barely budged after Fed Governor Christopher Waller said he still thinks the neutral interest-rate is relatively low, while warning that unsustainable fiscal spending could alter that trend.