Impact Of The Fed Meeting On Stocks [Forbes]
Meta Platforms, Inc. - Class A (META)
Company Research
Source: Forbes
The S&P 500 hit another all-time high last week with a tailwind from better-than-expected consumer inflation (CPI) readings and lower bond yields. While the Federal Reserve sounded a more hawkish tone on the surface, there are reasons to doubt that this stance will continue much longer. May CPI declined to 3.3% year-over-year, below consensus estimates and April's 3.4%. Perhaps more importantly, the CPI supercore, which measures services inflation excluding housing, finally broke its relentless upward year-to-date trend. Wage pressures heavily influence Supercore CPI since services have a significant labor component, so it is welcome news that this inflation driver might be easing. Less importantly but still notable, May producer price inflation (PPI) was also less than expected, so that portion of possible cost-push inflation looked tame. Consumer Inflation Diving into the month-over-month inflation data shows similarly helpful readings. The headline CPI level was tied with th
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