On Thursday, the S&P 500 and Nasdaq Composite showed gains as they approached the end of a positive month for the major averages. Investors also analyzed a key inflation metric that met economist expectations, as well as fresh U.S. housing data.
The broad market index saw a 0.4% increase, while the Nasdaq Composite rose by 0.6%. The Dow experienced a slight uptick of only 30 points, or 0.08%.
The trading session on Thursday concluded the month of February, marking another month of growth for Wall Street, despite some recent declines that have raised doubts about the sustainability of the AI-driven rally. The Nasdaq led the way with a 5.2% gain, while the S&P 500 recorded a 4.6% jump and the Dow gained 1.8%. Notably, this would be the Dow’s first four-month winning streak since May 2021.
Recent data indicated that the Federal Reserve’s preferred inflation measure remained above the central bank’s target in January, but it stayed within Wall Street’s expectations. Â there were signs pointing to continued strength in consumer spending.
Source (CNBC)
