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A weak Consumer Inflation Report Causes the S&P 500 and Nasdaq to Reach All-Time Highs

Following a less-than-expected U.S. consumer inflation estimate, the S&P 500 and Nasdaq Composite surged to all-time highs on Wednesday, consolidating their stellar 2024 performances.

The tech-heavy Nasdaq and the broad market index both saw gains of 0.3%.

The Dow Jones Industrial Average reached historic highs earlier in the day and increased by 147 points, or 0.4%.

Compared to the Dow Jones expectation of a 0.4% monthly increase, the CPI increased by 0.3% in April.

Forecasts indicated that the gauge would rise by 3.4% annually. The core CPI, which does not include energy and food costs that are erratic, showed consistent monthly and annual figures.

Source (CNBC)

SourceCNBC
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