Inflation data released on Wednesday showed that price increases slowed slightly from the annual rate recorded in the previous month, ending a surge of inflation that stretches back to the beginning of 2024.
Stream New York's #1 news - Accuweather - original content 24/7This is a significant and symbolic milestone for the index that tracks 30 of the most valuable publicly traded companies in the U.S.The recent rally in the Dow, S&P 500 and Nasdaq has been fueled by data showing inflation is cooling, which would allow the Federal Reserve to begin its long-awaited interest rate cuts.
"The combination of the Fed likely to be lowering interest rates because inflation is moderating with a resilient economy is a beautiful scenario for a bull market," Ed Yardeni, the president of market advisory firm Yardeni Research and former chief investment strategist at Deutsche Bank's U.S. equities division, told ABC News.
000 For The 1St Time Up 6% So Far This Year 14826358
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