Wall Street stocks hit a new record high in trading on May 15, after data showed US consumer prices fell slightly in April.
According to the latest report from the US Department of Labor released on May 15, the US consumer price index (CPI) in April stood at 3.4%, down 0.1 percentage points compared to the corresponding level in March. All three major indexes on the US stock market reached an all-time high after this statistic. The new inflation data increased the prospect of the US Federal Reserve (Fed) cutting interest rates.
The Dow Jones Industrial Average closed up 0.91 points to 39,908. The S&P 500 Index rose 1.21 points to 5,308.15, while the Nasdaq Composite Index rose 1.41 points to 16,742.39, setting a record for the second consecutive session. CFRA Research strategist Sam Stovall said recent reports have all signaled economic growth, cooling inflation and the prospect that the Fed will begin a rate-cutting cycle later this year.
US stocks rallied in the first quarter of 2024 on expectations of a Fed rate cut, but the market hit a snag in late spring when Fed officials pushed back the timing of a rate cut. In Vietnam, at the end of the session on May 15, the VN-Index increased by 11.11 points, or 0.89%, to 1,254.39 points, while the HNX-Index added 1.83 points, or 0.77%, to 236.78 points.
Source: Bnews
