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

Published On Sep 27, 2024, 9:37 AM

Stock markets experienced gains as investors reacted positively to a cooling inflation report, prompting increased speculation about potential interest rate cuts by the Federal Reserve. The S&P 500, Dow Jones, and Nasdaq all saw slight increases, with many traders betting on a 50 basis point rate cut in the upcoming policy meeting. In particular, China's recent stimulus measures contributed positively, leading to significant gains in Chinese stocks. However, Costco's stock faced a decline following disappointing revenue figures.

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Stock Forecasts

AI prediction results, not representative of any investment advice.

SPY View SPY chart on TradingView

Positive

The positive sentiment in the market due to easing inflation and potential Fed rate cuts could lead to continued gains in the market overall. Investors should watch for opportunities in sectors likely to benefit from rate cuts and stimulus measures, particularly in technology and consumer discretionary.

COST View COST chart on TradingView

Negative

Costco's disappointing earnings may indicate weaker performance ahead, suggesting a negative trend for its stock in the near term. The market's reaction to earnings misses can lead to further declines as investor sentiment wanes.

BABA View BABA chart on TradingView

Positive

Given the gains in Chinese markets, stocks such as Alibaba and JD.com could see positive momentum as investor confidence in Chinese demand increases. These stocks might benefit from the anticipated economic recovery in China.

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