⚠️BREAKING: *S&P 500 SURGES TO 14-MONTH HIGH AS TRADERS BET FED RATES NEAR PEAK $DIA $SPY $QQQ $IWM $VIX 🇺🇸🇺🇸
and Nasdaq jumped to 14-month highs on Thursday as investors digested fresh economic data and bet that the U.S. Federal Reserve is nearing the end of its aggressive interest-rate hike campaign.
Data showed U.S. retail sales unexpectedly rose in May as consumers spent on a range of goods including vehicles. Another data set showed jobless claims were unchanged at a seasonally adjusted 262,0000 for the week ended June 10, but were above economists' forecast of 249,000 claims. The latest wave of data came after Fed left rates unchanged at the 5%-5.25% range on Wednesday and indicated it may hike by at least half a percentage point this year as inflation remains stubbornly persistent and the U.S. economy stays resilient.
Thursday's gains were broad and included sectors viewed as sensitive to swings in the health of the economy. Ten of the 11 S&P 500 sector indexes rose, led by health care, up 1.37%, followed by a 1.22% gain in energy as oil prices rallied. [O/R].
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