The Dow Jones Industrial Average and the S&P 500 closed at record highs Tuesday. Both indexes also hit all-time intraday highs just before 3 pm EST.
Shortly after the 4 pm EST close, the $S&P 500 Index (.SPX.US)$ climbed 0.64%, the $Dow Jones Industrial Average (.DJI.US)$ climbed 1.19%, and the $Nasdaq Composite Index (.IXIC.US)$ fell 0.20%.
The market was climbing overall, with 9000 equities in the green, and 2800 falling.
This week will be a light one for macroeconomic news, with a myriad of Federal Reserve speakers and Initial Jobless claims on Thursday. Federal Reserve President Jerome Powell spoke Monday, saying the Fed would likely lower rates before inflation lowers to 2%.
"Today, I am not going to be sending any signals, one way or the other, on any particular meeting. So, just to ruin the fun," Powell said.
Last week, investors saw lower CPI numbers by about 0.1% than last month, and Producer Price Index numbers came out Friday, showing core producer prices grew at a rate of 0.4%, more than last month. Consumer confidence indicators from the University of Michigan showed that consumer sentiment on the economy fell to an eight-month low.
Tuesday, Federal Reserve Chair Jerome Powell said he would like more data supporting rate cuts, but the Fed keeps its options open. He said that, compared to two years ago, the labor market had cooled significantly to just above where it sat in 2019, and that inflation was not the Fed's only concern.
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