قالب وردپرس درنا توس
Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Wall St. gains after tame inflation data; S & P 500 hits high By Reuters

Wall St. gains after tame inflation data; S & P 500 hits high By Reuters




© Reuters. Traders work on the floor at NYSE in New York

By Caroline Valetkevitch

NEW YORK (Reuters) – U.S. The consumer spending rose in March, and benign inflation data highlighted the Fed's accommodative stance on interest rates.

Hopes of a trade resolution, high-income earnings and federal Fed have been rallying in the benchmark index this year. The index crossed its record high of 2,940.91

hit on Sept. 21 for the first time this year, restoring investor's faith in the decade-long bull run.

"It does create pressure to bring more buyers." Today's headline is the fear of missing out. It's going to make bears less bearish or more worried they're going to get to run, "said Jim Paulsen, chief investment strategist at The Leuthold Group in Minneapolis.

A Commerce Department report showed US Consumer spending has been rising by most in more than 9-1 / 2 years in March, but the price pressure has been muted, with a key inflation measure posting its smallest annual gain in 14 months.

Tame inflation may lead the central bank to cut Larry Kudlow said in a television interview on Monday.

The rose rose 44.73 points, or 0.17%, to 26,588.06, while the S & P 500 gained 7.69 points, or 0.26%, to 2,947.57 and the added 27.71 points , or 0.34%, to 8,174.11.

Financial stocks rose 1.2%, leading gains among the 11 major S & P sectors.

The Fed starts a two-day meeting on Tuesday, at the end of which a decision on interest rates will be announced.

Another busy week of earnings is expected, with results due from Google-parent Alphabet (NASDAQ: ) Inc and Apple Inc. (NASDAQ 🙂 among other top names.

Analysts are now expecting a profit of S & P 500 companies to fall by just 0.2% in the first quarter, a sharp improvement from a 2% fall in the beginning of the month, according to IBES data from Refinitiv data.

As trade talks enter their last leg, U.S. "

" Rick Meckler, a partner at Cherry Lane, said that "it's really about the administration's continuing to hint a trade agreement near it." Investments, a family investment office in New Vernon, New Jersey.

"People do not want to miss out on the expected rally from that news."

The Gardner Denver Holdings Inc., Inc. (19659004) The Defensive Utilities and Real Estate Indexes led the declines among sectors.

Ingersoll-Rand jumped after the Wall Street Journal. Gardner Denver Holdings Inc. is near a deal to acquire a unit of the air conditioner maker.

Advancing issues outnumbered declining ones on the NYSE by a 1.83-to-1 ratio; is the Nasdaq, a 1.68-to-1 ratio favored advancers.

The S & P 500 posted 38 new 52-week highs and no new lows; The Nasdaq Composite recorded 74 new highs and 21 new lows.


Source link