Stocks Hover Near All-Time Highs Before CPI Data
Wall Street traders are eagerly anticipating the upcoming release of key inflation data, with stocks hovering near record highs. The S&P 500 index has topped 5,760, driven by gains in big tech companies. Apple Inc. has led the charge among megacaps, while Tesla Inc. has also seen a boost after reporting its best-ever quarter for China shipments.
However, not all tech giants have seen positive news. Alphabet Inc., the parent company of Google, has fallen 1.8% on reports that the US government is considering a historic antitrust case that could potentially lead to a breakup of the tech giant.
Treasuries have also seen small moves ahead of a $39 billion US bond sale, as Wall Street navigates the remarks from various Federal Reserve speakers. Despite the market’s cautious optimism, investors remain focused on the upcoming consumer price index (CPI) data, which is expected to show a continued moderation in inflation.
