‘Wall Street Continues Rally as Fed Signals Dovish Stance and Housing Market Surges in November\n\nThe U.S. Stock market continued its rally on Tuesday, with all three major indexes advancing. The S&P 500 was within 1 percent of its record closing high, which was reached in January 2022. The blue-chip Dow also hit another all-time closing high. Small-caps have been performing well in December, with the Russell 2000 leading gainers with a 1.9% increase. The index has seen a surge of over 11.7% so far this month.\n\nThe Federal Reserve’s dovish policy pivot from last week continued to have an impact on the market, and investors are now looking ahead to crucial inflation data. The Fed signaled that it has reached the end of its tightening cycle and may implement rate cuts in the coming year. Atlanta Fed President Raphael Bostic stated that there is “no urgency” to begin cutting rates, given the strength of the economy and the slow rate of inflation.\n\nOn the economic front, the Commerce Department reported that groundbreaking on new single-family homes surged 18% to a 1-12 year high in November. This is a positive sign for the housing market, and the S&P 1500 Homebuilding index and the Philadelphia SE Housing index both saw gains of 1.6% and 1.2%, respectively.\n\nIn company news, Boeing saw a 1.2% increase after German airline Lufthansa announced it had ordered 40 737-8 MAX jets from the planemaker. Kenvue also saw a 2.2% increase following a U.S. Court ruling in favor of the consumer health company in a lawsuit over the safety of its talc-based baby powder.\n\nIn a Wall Street’s rally continues as the Fed’s dovish stance and positive economic data drive the market.’
‘Wall Street Continues Rally as Fed Signals Dovish Stance and Housing Market Surges in November\n\nThe U.S. Stock market continued its rally on Tuesday, with all three major indexes advancing. The S&P 500 was within 1 percent of its record closing high, which was reached in January 2022. The blue-chip Dow also hit another all-time closing high. Small-caps have been performing well in December, with the Russell 2000 leading gainers with a 1.9% increase. The index has seen a surge of over 11.7% so far this month.\n\nThe Federal Reserve’s dovish policy pivot from last week continued to have an impact on the market, and investors are now looking ahead to crucial inflation data. The Fed signaled that it has reached the end of its tightening cycle and may implement rate cuts in the coming year. Atlanta Fed President Raphael Bostic stated that there is “no urgency” to begin cutting rates, given the strength of the economy and the slow rate of inflation.\n\nOn the economic front, the Commerce Department reported that groundbreaking on new single-family homes surged 18% to a 1-12 year high in November. This is a positive sign for the housing market, and the S&P 1500 Homebuilding index and the Philadelphia SE Housing index both saw gains of 1.6% and 1.2%, respectively.\n\nIn company news, Boeing saw a 1.2% increase after German airline Lufthansa announced it had ordered 40 737-8 MAX jets from the planemaker. Kenvue also saw a 2.2% increase following a U.S. Court ruling in favor of the consumer health company in a lawsuit over the safety of its talc-based baby powder.\n\nIn a Wall Street’s rally continues as the Fed’s dovish stance and positive economic data drive the market.’$UPS2023-12-21T17:06:59.785Z
