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US inflation cools again: Will it pave the way for a rate cut?
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S&P 500, Nasdaq Post New Record Highs Thanks to Fed Powell's Caution on Keeping Rates High | Wall Street Today

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Moomoo Recap US joined discussion · Jul 9 15:48
S&P 500, Nasdaq Post New Record Highs Thanks to Fed Powell's Caution on Keeping Rates High | Wall Street Today
The S&P 500 and Nasdaq reached new record highs on Tuesday after Federal Reserve Chair Jerome Powell warned about the risks of keeping interest rates high for too long.
Powell will continue testimony this week before Congress on Wednesday before the House Financial Services Committee.
The $Nasdaq Composite Index(.IXIC.US)$ added 0.14% to close at 18429.29, and the $S&P 500 Index(.SPX.US)$ gained 0.07%. Both indexes closed at fresh reocrd highs. The $Dow Jones Industrial Average(.DJI.US)$ fell 0.13%, ending at 39291.97.
MACRO
Federal Reserve Chair Jerome Powell suggested the central bank was focusing greater attention on when to cut interest rates now that inflation has resumed a decline and the labor market is showing signs of cooling off.
Fed officials are trying to balance two risks. One is that they move too slowly to ease policy and the economy crumples under the weight of higher interest rates. The other is that lower rates ignite economic activity and allow inflation to settle out above their goal.
SECTORS
Oil dropped in a session marked by wild price swings as traders dissected Federal Reserve Chair Jerome Powell’s testimony to Congress.
West Texas Intermediate fell 1.1% tp settle below $82 a barrel as thin liquidity exacerbated price swings within a roughly $1 range.
MOOVERS
$Tesla(TSLA.US)$ stock rose 3.7% Tuesday, marking a ten-day winning streak
$UiPath(PATH.US)$ stock was falling 6.9% Tuesday after the software company announced it is cutting 10% of its global workforce.
On Tuesday, KeyBanc analyst John Vinh reiterated his Overweight rating on $NVIDIA(NVDA.US)$ stock and raised his price target to $180 from $130, citing strong demand for the highest-end server model of its new Blackwell GPU product line. The stock gained 2.5%.
Shares of $Koss Corp(KOSS.US)$ continued their slide Tuesday, falling 5.4% after ending Monday’s session down 21.4%.
Source: CNBC, Bloomberg, MarketWatch
Disclaimer: This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Indexes are unmanaged and cannot be directly invested in. Past performance is no indication of future results. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information regarding your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty regarding its adequacy, completeness, accuracy, or timeliness for any purpose of the above content. See this link for more information.
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