Reuters
Benign US inflation could support stock market laggards
Signs of falling U.S. inflation on Wednesday and growing hopes for interest rate cuts from the Federal Reserve could be a positive signal for large swathes of the stock market that have languished in a rally led by Big Tech. Benign consumer price data fueled bets the Fed will lower rates in coming months and sent the S&P 500 to fresh highs, as investors awaited comments from Fed Chairman Jerome Powell at the conclusion of the central bank’s meeting. Some investors believe expectations of cooling inflation andlooser monetary policy could also boost areas of the market that have been hurt by higher rates, including small caps and financial companies.
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