24 March: S&P 500 hits a new record high due to strong Oracle earnings and potential interest rate cuts.
The S&P 500 hit a new record high on 24 March, with US stocks rising sharply due to strong quarterly results from Oracle, which also announced a joint project with Nvidia. Despite the Consumer Price Index (CPI) rising by 0.4% in February, this did not deter investor hopes of interest rate cuts, as the probability of a rate cut in June increased to 70% from 71% before the inflation report.
March 12, 2024
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