Stocks showed a robust climb towards record highs, fueled by investor optimism regarding potential rate cuts and relief from trade tensions. The S&P 500 slightly lagged behind its February record, rising 0.8%. Despite concerning economic data, including a deeper-than-expected contraction and rising jobless claims, market momentum was driven more by optimism than fundamentals. Reports suggested that President Trump may soon appoint a new Federal Reserve chair, which could expedite interest rate cuts, while indications of a prolonged tariff pause were also supportive of growth.
The U.S.' major stock index closed within a hair of its record high set in February, climbing on investors' hopes that rate cuts and tariff relief are coming sooner than expected.
A mixed picture emerged from economic reports, with the first-quarter contraction being steeper than initially thought and jobless aid claims at a three-and-a-half-year high.
Collection
[
|
...
]