What's fueling this week's record-breaking stock rally [CNN]
Meta Platforms, Inc. - Class A (META)
Company Research
Source: CNN
Last week, the S&P 500 and Dow surged to new highs after the Fed said it is cutting interest rates by half a point, marking a pivot from the aggressive hiking cycle that brought rates to a 23-year high. CNN's Fear & Greed Index, which measures seven barometers of market sentiment, is at a “greed” reading. Strong economic data this week has kept the party going. The S&P 500 on Thursday marked its 42nd record high close in 2024, while the Dow marked its 31st record high close of the year the prior day. All three major indexes are on pace for a positive week. The Dow has gained 0.9%, the S&P 500 has added 0.7% and the Nasdaq Composite has climbed 1%. The Personal Consumption Expenditures price index, the Federal Reserve's preferred inflation gauge, showed that the prices consumers paid for goods and services rose 2.2% last month on an annual basis, down from 2.5% in July. The reading was below expectations from economists polled by FactSet, and is a step closer towards the Fed's 2
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