Dow, S&P 500, and Nasdaq touched record closing highs as CPI slows | Hopes of Fed rate cut grow

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Indices on Wall street notched up to record closing highs after a smaller-than-expected rise in consumer inflation bolstered hopes for interest rate cuts by the Federal Reserve. Tepid U.S. Consumer Price Index data for April led traders to raise bets that the Fed will cut its policy rate in September and December

first published: May 16, 2024 01:59 pm