{"id":1815,"date":"2024-05-15T23:28:29","date_gmt":"2024-05-15T23:28:29","guid":{"rendered":"https:\/\/ventil.rs\/blog\/business\/the-stock-market-is-back-in-rally-mode\/"},"modified":"2024-05-15T23:28:29","modified_gmt":"2024-05-15T23:28:29","slug":"the-stock-market-is-back-in-rally-mode","status":"publish","type":"post","link":"https:\/\/ventil.rs\/blog\/business\/the-stock-market-is-back-in-rally-mode\/","title":{"rendered":"The Stock Market Is Back in Rally Mode"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">Wall Street is back in rally mode, with investors seizing on the latest sign that interest rates could begin to fall this year.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">The S&amp;P 500 rose 1.2 percent on Wednesday, adding to three straight weeks of gains and climbing above its previous record, set on March 28.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">It marks a sharp shift from the sour mood that helped pull the index more than 5 percent lower at the beginning of April, as investors got used to the idea that high interest rates might stick around for longer, weighing on the economy and the markets.<\/p>\n<p class=\"css-at9mc1 evys1bk0\"><a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/live\/2024\/05\/15\/business\/cpi-inflation-fed\" title=\"\">Fresh inflation data on Wednesday<\/a> morning provided the catalyst for the index to cross through its previous record. The S&amp;P 500 is now nearly 7 percent above its most recent low in April.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div>\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">Wednesday\u2019s report \u2014 data from the closely watched Consumer Price Index \u2014 showed a modest slowdown in the pace of rising prices, in line with economists\u2019 expectations. Investors welcomed the numbers and a return to the trend of gradually receding inflation after months of disappointing data that had upset financial markets and sent stock prices lower.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">\u201cThis is the first good C.P.I. report in four months and the market likes it,\u201d said Gary Pzegeo, head of fixed income at CIBC Private Wealth US.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Early in the year, investors had largely shrugged off stubbornly high inflation data, choosing to focus instead on robust growth underpinning the stock market. That propelled the market to repeated records through March.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Then in early April, things took a turn. After a third successive C.P.I. report undermined the trend of gradually slowing inflation, worries began to set in that the Federal Reserve might not just delay rate cuts but actually increase interest rates. The S&amp;P 500 fell for three weeks in a row, its worst run of the year so far, slipping a total of 5.5 percent from its high through April 19.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Investors turned more hopeful again this month, when the Fed chair, Jerome H. Powell, poured cold water on the likelihood that the central bank would raise interest rates. Then a report last week showing a slowdown in hiring in April, along with more meager wage inflation, brought the possibility of rate cuts this summer back into the picture, giving the stock market a boost.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div>\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">\u201cThose two things have really helped the stock market,\u201d said David Kelly, chief global strategist at J.P. Morgan Asset Management.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Wednesday\u2019s C.P.I. report had been seen as the next major test for the market, either undermining the relief that stemmed from April\u2019s jobs report, or, as proved to be the case, supporting it.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">The two-year Treasury yield, which is sensitive to changes in interest rates, has fallen to just above 4.70 percent from over 5 percent at the end of April, as fears of rates moving higher have cooled. The benchmark 10-year Treasury yield, which underpins borrowing across the world, has fallen back to around 4.35 percent from 4.7 percent over the same period.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Investors in futures markets are now betting that the Fed is likely to lower interest rates by a quarter of a percentage point in September, assuming no further disruptions to disinflation that could push stocks lower.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Another important tailwind has been better-than-expected earnings results, with corporate leaders spending the past few weeks updating investors on their profitability over the first three months of the year, and where they see the economy headed from here.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div>\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">Corporate earnings have so far grown 5.4 percent, with just over 90 percent of companies reporting their financial results, as of Friday. At the end of March, analysts were expecting growth of just 3.4 percent.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">On Friday the S&amp;P 500 notched its third straight week of gains, a feat it hadn\u2019t managed since mid-February. Importantly, the Russell 2000 stock index of smaller companies that are more exposed to the ebb and flow of the American economy, is also now positive this year, after rallying in recent weeks. The index rose 1 percent on Wednesday.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Mr. Kelly said that after the \u201ctumultuous\u201d changes over recent years \u2014 including the pandemic, and the wars in Ukraine and Gaza \u2014 an \u201cequilibrium\u201d has begun to return to the economy.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">\u201cWe are settling into a boring economy and boring can last a long time,\u201d he said.<\/p>\n<p class=\"css-798hid etfikam0\">J. Edward Moreno<!-- --> contributed reporting.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.nytimes.com\/2024\/05\/15\/business\/stock-market-inflation.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wall Street is back in rally mode, with investors seizing on the latest sign that interest rates could begin to fall this year. The S&amp;P 500 rose 1.2 percent on Wednesday, adding to three straight weeks of gains and climbing above its previous record, set on March 28. It marks a sharp shift from the&#8230;<\/p>\n<p class=\"more-link-wrap\"><a href=\"https:\/\/ventil.rs\/blog\/business\/the-stock-market-is-back-in-rally-mode\/\" class=\"more-link\">Read More<span class=\"screen-reader-text\"> &ldquo;The Stock Market Is Back in Rally Mode&rdquo;<\/span> &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":1816,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/static01.nyt.com\/images\/2024\/05\/15\/multimedia\/15stocks-rally-promo-lckz\/15stocks-rally-promo-lckz-facebookJumbo.jpg","fifu_image_alt":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-1815","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.8 (Yoast SEO v22.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Stock Market Is Back in Rally Mode - Breaking News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ventil.rs\/blog\/business\/the-stock-market-is-back-in-rally-mode\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Stock Market Is Back in Rally Mode\" \/>\n<meta property=\"og:description\" content=\"Wall Street is back in rally mode, with investors seizing on the latest sign that interest rates could begin to fall this year. 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