November 13, 2024 21:34 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
'Executive can't become judge and demolish house of accused': Supreme Court on bulldozer justice | TMC leader shot dead as violence mars bypolls in Bengal's North 24 Parganas | Jharkhand in first phase of assembly elections today; Priyanka Gandhi Vadra faces bypoll contest from Wayanad | Archbishop of Canterbury Justin Welby resigns over sexual abuse scandal involving Church of England | Elon Musk, Vivek Ramaswamy to lead DOGE, announces Donald Trump
S&P 500, Nasdaq post all-time closing highs ahead of CPI, Fed decision
US Stock Market
Representational image from Pixabay

S&P 500, Nasdaq post all-time closing highs ahead of CPI, Fed decision

| @indiablooms | 12 Jun 2024, 11:41 am

New York/IBNS: The S&P 500 and Nasdaq rose on Tuesday (June 11) to end at all-time highs, reversing early losses as investors prepared for upcoming inflation data and the United States Federal Reserve's policy meeting, reports said.

According to reports, benchmark Treasury yields extended their decline ahead of the Labour Department's Consumer Price Index (CPI) report.

Apple shares helped put the tech-heavy Nasdaq out front, while the blue-chip Dow Jones Industrial Average ended lower, while the S&P 500 also turned green as Fed policy makers convened for their two-day policy meeting, reports Reuters.

As per reports, while investors expect no change to the Fed funds target rate, the Federal Open Markets Committee (FOMC) is expected to release its Summary of Economic Projections, which should help illuminate the central bank's forward policy path.

The data-reliant Fed will watch whether the CPI data due early Wednesday (June 12) shows, as expected, that inflation was still meandering down toward the central bank's 2 percent annual target, as reported by Reuters.

The report follows Friday's hotter-than-expected US wage growth numbers, reports said.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.