Biden Hands Out 'Big L' To Trump As Dow Hits 40K For First Time And Ex-President's Stock Market Crash Prediction Falls Flat
Portfolio Pulse from Shanthi Rexaline
The Dow Jones Industrial Average hit a record high of 40,000, providing President Joe Biden an opportunity to counter former President Donald Trump's prediction that the stock market would crash if Biden were elected. The market's performance is attributed to cooling consumer price inflation and expectations of a Federal Reserve rate cut. The SPDR S&P 500 ETF Trust (SPY) edged down 0.1% in premarket trading but is up 11.6% year-to-date.
May 17, 2024 | 9:36 am
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The SPDR S&P 500 ETF Trust (SPY) edged down 0.1% in premarket trading but is up 11.6% year-to-date. The market's performance is driven by cooling consumer price inflation and expectations of a Federal Reserve rate cut.
The SPY's slight premarket decline is overshadowed by its strong year-to-date performance, driven by positive economic indicators and expectations of a Federal Reserve rate cut.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80