[ad_1]
The stock market reached a record high as hopes for more Federal Reserve rate cuts were fueled by a tame Inflation report, leading to gains in small-cap Stocks and keeping Wall Street’s main indexes on track for weekly gains.

The Dow Jones Industrial Average closed at 42,313.00, up 137.89 points or 0.33%, while the S&P 500 lost 7.20 points to 5,738.17, and the Nasdaq fell slightly. Despite the dip, all three indexes remained near recent record levels.

Investors are optimistic about a potential 50-basis-point cut at the Fed’s next meeting, with expectations rising after data showed easing Inflation pressures. This follows the Fed’s recent 50 bps rate cut in response to cooling price pressures.

On the corporate front, Bristol-Myers Squibb saw gains after FDA approval for its schizophrenia drug, while Costco Wholesale’s stock dipped following disappointing fourth-quarter revenue results.

Chinese firms listed on US exchanges, including Alibaba, PDD Holdings, and NetEase, saw gains after China’s Central bank lowered Interest rates and injected liquidity into the banking system. Similarly, optimism extended to mining companies like Arcadium and BHP, with their US-listed shares rising.

Market sentiment was positive overall, with advancing issues outnumbering decliners on the NYSE. Volume on US exchanges was slightly lower than the 20-day trading average.

The S&P 500 and Nasdaq Composite recorded new 52-week highs, reflecting overall market strength. Looking ahead, focus will shift to upcoming labor market reports next week.

[ad_2]
Inflation-report-3635623″>SOURCE