From The Seattle Times: 2024-05-31 02:14:15

Wall Street rallied after a report showed inflation is not worsening. S&P 500 rose 0.8% for its sixth winning month in seven. Dow Jones climbed nearly 575 points while Nasdaq slightly slipped. Gap saw a 28.6% gain after strong profit and revenue. Bond market easing helped boost stocks as inflation stayed at 2.7%. Businesses are cautioned to prepare for less consumer spending. Treasury yields went down, with an 85% probability of a Fed rate cut this year. Real-estate stocks saw gains, while tech stocks like Dell and Nvidia suffered losses. Trump Media dropped 5.3% following Donald Trump’s conviction. MongoDB fell 23.9% despite topping forecasts. Major indexes: S&P 500 rose 42.03 points, Dow shot up 574.84 points, Nasdaq slipped 2.06 points. Stock markets abroad were mixed.



Read more at The Seattle Times: Stock market today: Wall Street rallies to close out a bloom-filled May