VWO - Asia Markets Advance While Europe Dips Gold Closes In On $2400 Again - Global Markets Today While US Slept | Benzinga
On Wednesday, May 16th, U.S. stock markets closed significantly higher, with major indexes reaching record highs. The S&P 500 and Nasdaq each climbed over 1% following lower-than-expected consumer inflation, which fueled hopes for Federal Reserve rate cuts. Technology stocks led the gains, pushing the Dow closer to the 40,000 mark.
According to the economic data, April U.S. consumer prices rose 0.3% month-over-month, down from 0.4% in March and below market expectations of 0.4%. Annual inflation slowed to 3.4% from 3.5%. U.S. retail sales remained unchanged, following a revised 0.6% increase in March.
Among the S&P 500’s 11 key industry sectors, most saw gains, with rate-sensitive technology stocks and real estate leading the way.
The Dow Jones Industrial Average was up 0.88% and closed at 39,908.00. The ...