Stocks Hit Record Highs, Central Banks Cut Rates, Tight US Jobs Report Dampens Fed Easing Hopes: This Week In The Market – Apple (NASDAQ:AAPL), Bank of New York Mellon (NYSE:BK)
From Benzinga: 2024-06-07 16:25:32
The stock market hit fresh record highs last week, with the S&P 500 and Nasdaq 100 indices breaking new ground. Nvidia briefly surpassed Apple as the second most valuable U.S. company. The ECB and Bank of Canada made rate cuts, signaling global easing. May jobs data suggest no immediate Fed rate cut.
Investors reduce bets on two Fed rate cuts this year post-strong jobs report. Ark Invest CEO bullish on AI investments despite selling Nvidia stock. “Roaring Kitty” holds over $115.7 million in GameStop shares. Robinhood stock surges after Bitstamp acquisition. Apple to showcase AI advancements at WWDC 2024.
Experts warn of market manipulation concerns in GameStop trades. Wall Street giants plan CEO-friendly Texas Stock Exchange. Chart of the Week: S&P 500 and Nasdaq 100 close at all-time highs. Market interest shifts after strong economic data – Fed rate cuts not fully priced in.
Read more at Benzinga: Stocks Hit Record Highs, Central Banks Cut Rates, Tight US Jobs Report Dampens Fed Easing Hopes: This Week In The Market – Apple (NASDAQ:AAPL), Bank of New York Mellon (NYSE:BK)