VZ - Dow at 40K: Leaders and laggards over the last 10000 points

2024-05-17 07:33:51 ET

There's exuberance in the markets again as traders celebrate in style following the first CPI reading of the year that drifted lower . Never mind that the drop was miniscule, and the rate of inflation is still holding well above 3% , all that matters is that Fed Chair Jay Powell has signaled the next rate move will in all likelihood be down, and not up. On that note, the major indices are notching fresh all-time highs, the meme stock rally has recharged, and it almost feels like new stimulus checks are about to be delivered (don't get your hopes up)....

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