From Investing.com: 2024-05-15 14:08:18

The S&P 500 and Nasdaq hit record highs as consumer inflation cooled more than expected, raising hopes for rate cuts and sending Treasury yields lower. The CPI slowed to a 0.3% pace in April, easing concerns of rapidly rising inflation. Treasury yields fell, with a 10-year Treasury dropping 10 basis points to 4.34%. Tech stocks rallied, led by Apple, Google, META, and Nvidia, boosted by strong demand for existing chips. Boeing fell over 1% on news of potential legal issues related to the 737 Max crashes. Meme stocks like AMC and GameStop saw volatile trading, with AMC falling 16% after announcing a debt-for-equity swap.



Read more at Investing.com: S&P 500, Nasdaq at record highs as signs of cooling inflation boost rate-cut hopes By Investing.com