Wall Street Rises Sharply, Poised for a New Record as May CPI Cools in the US
All key indicators from the report were a tenth below estimates.

This all occurs in the countdown to the Federal Reserve’s monetary policy decision, which will update its economic outlook.
Wall Street stocks surged on Wednesday after the May CPI in the United States indicated cooling inflation, coming just hours before the Federal Reserve’s rate decision announcement.
In this scenario, the New York Stock Exchange indices soared to new record highs. The Nasdaq Composite rose 1.87%, the S&P 500 increased 1.12%, and the Dow Jones gained 0.28%.
All key indicators from the report were a tenth below estimates, and the annual rate of the core series dropped to its lowest since April 2021.
The cooler data has raised expectations that the Fed might cut rates sooner than anticipated, weakening the global dollar and boosting stocks.
The two-year Treasury bond yield plummeted 15.6 basis points to its lowest rate since early April, and the expected probability of a rate cut in September jumped from 50% to 70% in the implied rates of the derivatives market.
All of this happens in the countdown to the Fed’s monetary policy decision at 2:00 PM (both in Chile and the US). While no rate changes are expected, agents will closely scrutinize the dot plot and any shifts in central bankers’ rate expectations.
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