ACTV - The Stock Market Was Up In May; Still Expecting More 'Up'
2024-06-02 18:06:53 ET
Summary
- US stock markets performed well in May despite a period of uncertainty.
- Data on inflation reached the market on Friday showing that the Fed's favored price index, the PCE, was up only 2.7 percent from a year earlier.
- Combined with information that economic growth was slower than expected, investors expectations that the Fed would reduce its policy rate of interest...rose.
- Stock prices...rose.
- And, the Fed can be expected to keep up its current policy through the end of the year...and stock prices are expected to continued to move upwards.
The United States stock markets performed well in May, even though they went through a down period that looked a little bit ominous.
The S&P 500 index rose from 5,035.69 on April 30, 2024, to close at 5,277.51 on May 31, 2024....
The Stock Market Was Up In May; Still Expecting More 'Up'