In-line CPI report leads to a blockbuster day for US stock markets

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In-line CPI report leads to a blockbuster day for US stock markets

What's better than a solid economy and a dovish Fed that still has plenty of ammunition to lower rates?

Not much, evidently.

US stocks powered ahead on Wednesday after CPI inflation data matched estimates. The numbers were good enough to convince the market that the Federal Reserve will cut rates next week.

There may be year-end effects as well as the market piles into mega-cap tech in a catch-up trade.

• GOOGL +4.6%
• MSFT +1.2%
• META +2.4%
• NVDA +3.5%
• AAPL -0.1%
• AMZN +2.1%
• TSLA +4.8%

If you strip those out it was a fairly uninspiring day for equities though small caps also cheered on the Fed.

• S&P 500 +0.9%
• Nasdaq Comp +1.8%
• Russell 2000 +0.9%
• DJIA -0.1%
• Toronto TSX Comp +0.6%

                This article was written by Adam Button at www.forexlive.com.

Source: In-line CPI report leads to a blockbuster day for US stock markets

forexlive.com