06/12/2024

S&P 500, Nasdaq Post Closing Record Highs

This came after the Fed's rate statement

The S&P 500 and Nasdaq posted record closing highs for a third straight day on Wednesday after consumer prices data came in softer than expected but the indexes ended off the day's highs as the Federal Reserve projected only one interest rate cut this year.

The U.S. central bank, in a statement at the end of its June 11-12 meeting, said it left its policy rate unchanged at 5.25 percent-5.5 percent, as expected.

Stocks were choppy following the news, with the S&P 500 and Nasdaq paring gains late and the Dow finishing near flat.

Please select this link to read the complete article from Reuters.