Cool inflation data lifts S&P 500 to record high while broader market lags
Cool inflation data helped the S&P 500 set a record high, while other equity markets remained muted as hopes faded for a US-Iran arrangement on the Strait of Hormuz.
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The S&P 500 advanced to a record high, supported by cooler inflation data. The move came during what was described as a relatively muted week across much of the equity market.
Sentiment was capped elsewhere as expectations dimmed that Iran and the U.S. would reach an arrangement to reopen the Strait of Hormuz. That fading optimism contributed to a 6% rise in crude oil.
Other equity segments lagged the S&P 500, leaving a mixed tone overall.
Source: FXStreet Forex News