Benzinga Market Summary: S&P Closes Higher Following Soft Inflation Data, Fed Leaves Rates Unchanged
Portfolio Pulse from Benzinga Newsdesk
The S&P 500 closed higher following soft inflation data, and the Federal Reserve decided to leave interest rates unchanged.
June 12, 2024 | 8:03 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) is likely to see a positive impact due to the S&P 500 closing higher following soft inflation data and the Federal Reserve's decision to leave interest rates unchanged.
The S&P 500's positive performance is directly reflected in the SPDR S&P 500 ETF (SPY). Soft inflation data and the Fed's decision to maintain current interest rates are favorable conditions for the stock market, likely leading to a short-term increase in SPY's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100