3 sources·Business

U.S. Stocks Rally on Cooler Inflation Data and Fed Comments

U.S. stock markets surged on Friday, recovering some losses from earlier in the week amid cooling inflation data and comments from Federal Reserve officials.

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Updated: Dec 20th, 2024, 7:29 PM ET

Summary

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U.S. stocks ended the week on a high note, with rallies in the S&P 500, Dow Jones, and Nasdaq following better-than-expected inflation data and reassurances from Fed officials. The PCE inflation index showed a slight increase of 0.1%, alleviating concerns over interest rate cuts. The Fed indicated it may now reduce rates only twice in 2025 instead of four times, spurring market optimism. While the week ended with a decline in major indices, traders now anticipate potential rate cuts in the upcoming year supported by economic resilience in consumer spending.

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