S&P 500 notches fresh record ahead of PCE data
==========
On September 27, 2024, the S&P 500 rose 0.4%, marking its 42nd closing record of the year; the Nasdaq 100 increased by 0.7% after earlier rising 1.5%. The Bloomberg Dollar Spot Index fell, while the 10-year US Treasury yield reached approximately 3.79%. Positive economic data and China's commitment to fiscal spending boosted market sentiment. Micron Technology Inc. provided a strong forecast driven by AI demand, while Super Micro Computer Inc. faced a Justice Department probe, causing its shares to decline. Costco Wholesale Corp. reported higher-than-expected profits after market close. Traders are anticipating key economic indicators, including the Federal Reserve's preferred inflation measure and consumer demand data, set to release on September 28. Peter Tchir from Academy Securities expressed optimism about resilient economic data, particularly in the job market. Additionally, the Swiss National Bank and Mexico both cut interest rates, following similar actions by Hungary and the Czech Republic earlier in the week. Oil prices fell for the second consecutive day amid reports of increased output from Saudi Arabia and Libya's new central bank governor.
#S&p500 #Nasdaq #UsEconomy #PceData #MicronTechnology #SuperMicroComputer #Costco #InterestRates #OilPrices #FederalReserve
https://theedgemalaysia.com/node/728193
Oddbean new post about login | logout