Recent inflation data showed a significant slowdown, with the core consumer price index (CPI) rising by 0.3% in April, the first slowdown in six months. The core CPI increased by 3.4% annually, the slowest pace in three years, driven by housing and gasoline costs.
Weak inflation data boosted market optimism, leading to a rise in U.S. stocks, with the S&P 500 closing above 5300 for the first time in history. Technology, real estate, and healthcare stocks saw gains, while consumer stocks declined.
Federal Reserve Chairman Powell suggested patience on interest rate cuts, but market investors anticipate a 60% likelihood of a cut in September. More data indicating declining inflation is needed before monetary easing moves.
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