Wall Street Reaches New Heights with Inflation and AI Surge
Wall Street soared to new records driven by a positive inflation report and tech boosts. The S&P 500 rose amid expectations of a Fed rate cut, while Oracle's AI-driven revenue forecast pushed tech stocks higher. Klarna's public debut and mixed global markets added dynamics to the financial landscape.
Wall Street is poised for another record-breaking day as an unexpectedly positive inflation report combined with Oracle's impressive growth forecast, driven by the AI boom, provide strong upward momentum.
The S&P 500 increased by 0.5%, set for its second consecutive all-time high, as traders anticipate the Federal Reserve will cut interest rates due to controlled inflation without tipping the economy into recession.
Tech stocks, particularly Oracle and Nvidia, led the way as Oracle anticipates massive revenue increases from AI demand. Meanwhile, Klarna prepared for its public trading debut, leading to diverse global market performances.
(With inputs from agencies.)
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