Stock market today: US stocks rise as Fed-favored PCE inflation print hits the mark
Published On Aug 30, 2024, 9:40 AM
US stocks finished the last trading week of August positively, with all three major indexes (Dow Jones, S&P 500, and Nasdaq Composite) showing gains. This rebound comes as investors reacted favorably to the core Personal Consumption Expenditures (PCE) inflation figures, which met expectations and bolster hopes for upcoming interest rate cuts by the Federal Reserve in September. Despite some volatility earlier in the month, sentiment has shifted to optimism about a policy pivot from the Fed. The strong performance was led particularly by the S&P 500, which saw a 1% increase.
Stock Forecasts
SPY
Positive
The overall positive momentum in the stock market, supported by favorable inflation readings and anticipated Federal reserve rate cuts, signals a bullish trend for market indices.
NVDA
Positive
Despite the recent turbulence in tech stocks and overall mixed responses from earnings reports in the tech sector, continued demand for AI technology suggests Nvidia may maintain a positive trajectory, though with potential volatility.
INTC
Positive
Intel is showing promise after announcing a potential restructuring, gaining interest following a significant drop in share price earlier this year. This may attract value investors looking for turnaround stories.
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