Indexes Score Record Closes Amid Rate Cut Optimism

Lighter-than-expected inflation data is behind today's gains

Deputy Editor
May 15, 2024 at 4:22 PM
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The S&P 500 and Nasdaq secured fresh record closes today, thanks to April's consumer price index (CPI) reading that was lighter than expected. The Dow settled higher as well at an all-time high of its own, brushing off flat retail sales as it nabbed a 10th daily win in the last 11 sessions, with investors now optimistic about interest-rate cuts this year. 

Continue reading for more on today's market, including:

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5 THINGS TO KNOW TODAY

  1. In case you missed it: Inflation breakdown for April 2024. (CNBC)
  2. President Joe Biden and former President Donald Trump will debate twice ahead of the election. (MarketWatch)
  3. What kind of options strategy is right for you?
  4. Solar stock pivots lower after short squeeze.
  5. Behind Nio stock's volatile price action.

There were no earnings of note today.

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Gold futures Surge to 3-Week High

Oil prices settled higher on Wednesday, after U.S. crude supplies fell for the second week straight. June-dated West Texas Intermediate (WTI) crude added 61 cents, or 0.8%, at $78.63 a barrel.

Gold futures jumped to a three-week high, after U.S. data showed a slowdown in the inflation rate, which in turn bolstered hopes of interest-rate cuts this year. June-dated gold futures added $35, or 1.%, to trade at $2,394.90 per ounce.  

 

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