NEW YORK, March 23 A reassuring economic outlook and dovish signals from the Federal Reserve are encouraging investors to look beyond the massive growth and technology.
Stocks have hit multiple record highs this year, but declined on Friday following a mixed U.S. payrolls report that did little to alter expectations for the Fed to begin cutting rates in June.
Nasdaq drives Wall Street higher as traders bet on Fed interest-rate cuts despite slightly higher consumer prices due to increased gasoline and shelter costs. Labor Department reports U.S. consumer prices rose 0.4% in February. Traders see 70% chance of first rate cut in June. Chip stocks, including Nvidia and Meta Platforms, gain.