Stock market today: Stocks gain as Fed's favored inflation gauge cools

Published On Sep 27, 2024, 9:37 AM

Recent market trends indicate a positive shift, with stocks gaining as investors reacted favorably to a cooling inflation report from August. The core Personal Consumption Expenditures (PCE) index, a key measure for the Federal Reserve, showed a slower increase than expected. This has led to increased speculation about potential interest rate cuts by the Fed, with over half of traders predicting a 50 basis point cut. Additionally, stimulus measures from China boosted market optimism, notably benefitting luxury brands and major companies like Alibaba and JD.com. Meanwhile, Intel's shares rose following reports of potential funding under the CHIPS Act and interest from Arm Holdings in acquisition discussions, despite facing challenges in its value year-to-date.