From Nasdaq: 2024-05-15 12:51:16

US stock indexes rose this morning, with the S&P 500 and Nasdaq 100 hitting all-time highs amid lower bond yields after US consumer prices eased. Retail sales and manufacturing reports were weaker than expected, supporting expectations of a Fed interest rate cut. Q1 earnings exceeded estimates, boosting market sentiment.

Overseas markets were mixed, with Euro Stoxx rising and Shanghai Composite falling. Interest rates fell as T-notes rallied on Fed-friendly economic reports, while European bond yields declined. Eurozone industrial production rose, and GDP growth and inflation forecasts were adjusted.

Homebuilder and chip stocks surged, with DR Horton, AMD, and Nvidia leading gains. Monday.com, NU Holdings, and Shift4 Payments rose on strong earnings reports. Disney and Boeing struggled as Walt Disney announced spending cuts and Boeing faces possible criminal prosecution. Dlocal, Accenture Plc, and Six Flags Entertainment declined.

Various companies reported earnings reports on 5/15/2024, including Cisco Systems and Workhorse Group. The markets await the outcome of the June 11-12 FOMC meeting, with expectations growing for a rate cut. Market sentiment remains positive, buoyed by earnings results and supportive economic data, despite some mixed performance in individual stock movements.



Read more at Nasdaq: S&P 500 and Nasdaq 100 Rally to Record Highs on Fed-Friendly Economic Reports