Fundamentals driving U.S. equities higher with record highs and potential Fed rate cuts.

From Investing.com: 2024-06-19 07:20:34

U.S. stock markets are rallying due to fundamental drivers, according to UBS analysts. The Nasdaq and S&P 500 closed at new record highs, boosted by Nvidia surpassing Microsoft as the world’s most valuable company. Soft U.S. retail sales data for May suggests slowing consumer spending, leading traders to believe the Fed may implement two interest rate cuts this year. Analysts predict a “soft landing” for the economy, supporting positive outlook for equities. Market anticipates Fed easing cycle in 2024, benefiting growth and small-cap stocks. Nvidia’s AI success is expected to drive further equity gains.



Read more at Investing.com: Fundamentals expected to continue driving U.S. equities higher