"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."
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.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]