Stocks showed little movement on Wednesday as traders processed a slight gain from the previous session, which propelled the S&P 500 to a new high.
The S&P 500 surged over 1% on Tuesday, along with the Nasdaq Composite, following the release of February U.S. inflation data that met expectations.
“We believe that the economic cycle will not be halted by the Fed. The ultimate determining factor for the end of this expansion will be the occurrence of a significant shock. Otherwise, we could remain in what is considered a late cycle phase for a considerable period,” remarked Gabriela Santos, global market strategist at JPMorgan Asset Management, during an appearance on CNBC’s “Closing Bell.”
Source (CNBC)
