S&P ends volatile August with 4th straight winning month
Published On Aug 30, 2024, 4:06 PM
U.S. stocks ended a busy week and turbulent month positively, fueled by a favorable inflation report that boosted expectations for Federal Reserve rate cuts in September. The Dow Jones rose 0.6%, the S&P 500 increased by 1%, and the Nasdaq Composite gained 1.1%. The Personal Consumption Expenditures (PCE) index showed core inflation remained stable at 2.6% annually, keeping the Fed on a path for policy easing. Despite mixed performances among major tech stocks, Wall Street is transitioning away from recession fears and is optimistic about potential economic resilience and Fed actions.