S&P 500 Hits Record High in Run-Up to CPI Report: Markets Wrap
- Inflation probably moderated at the end of the third quarter
- Fed minutes show strong debate about size of September cut
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Wall Street traders gearing up for key inflation data sent stocks to fresh all-time highs. Treasuries retreated while the dollar notched its longest winning run in more than two years.
On the eve of a report expected to show consumer prices continued to moderate, the S&P 500 approached 5,800. The gauge hit its 44th record in 2024, with tech shares once again leading the charge. Apple Inc. climbed 1.7%. Nvidia Corp. halted a five-day rally. Tesla Inc. edged lower ahead of the Robotaxi launch. Alphabet Inc. fell 1.5% on news the US is weighing a Google breakup in a historic big-tech antitrust case.