S&P 500 closes at fresh record as cooler PPI cuts September Fed hike odds
The S&P 500 posted another record close Thursday after a cooler PPI print strengthened the view that the Fed will hold off on a September rate hike.
SPX
US equities extended their advance on Thursday, with the S&P 500 marking a fresh all-time high. The move followed a headline producer price index reading that came in cooler than expected, reinforcing the view that inflationary pressures are easing.
The update put the Federal Reserve’s September meeting back in focus, with market pricing trimming the odds of a rate hike after the release. That probability has been volatile over the past month, repeatedly moving on and off the table.
Source: FXStreet Forex News