US stocks set a new record

Adjusted data show that US inflation continues to cool down, helping the S&P 500 close above 5,000 points for the first time
Closing the trading session on February 9, the S&P 500 index increased 0.5% to 5,026 points. DJIA decreased 0.14% to 38,671 points. Meanwhile, the Nasdaq Composite rose 1.2%.
For the whole week, the S&P 500 increased 1.4% and the Nasdaq increased 2.3%. Both indexes have increased for 5 consecutive weeks and increased for 14 of the last 15 weeks.

"At the end of the day, we again received good economic news. The market reacted to that," Dana D'Auria - Chief Investment Officer at Envestnet commented on CNBC.

The US Bureau of Labor Statistics on February 9 announced adjusted data showing that the country's consumer price index in December increased by 0.2% compared to the previous month. The above speed is down from the preliminary estimate of 0.3%. Core inflation (excluding food and energy prices) remains unchanged.

"This will give the Fed more confidence that economic growth and employment will not lead to high inflation," commented Ellen Zentner - economist at Morgan Stanley. January CPI will be announced next week.

Positive business results of businesses, cooling inflation and a vibrant economy helped US stocks accelerate early this year. The S&P 500 index sometimes exceeded the 5,000 point mark on February 8, but at the end of the session it lost this mark. The S&P 500 index exceeded 4,000 points in April 2021, when the US Federal Reserve (Fed) lowered interest rates to nearly 0% to support the economy during the pandemic.

Positive business results of businesses, cooling inflation and a vibrant economy helped US stocks accelerate early this year. The S&P 500 index sometimes exceeded the 5,000 point mark on February 8, but at the end of the session it lost this mark. The S&P 500 index exceeded 4,000 points in April 2021, when the US Federal Reserve (Fed) lowered interest rates to nearly 0% to support the economy during the pandemic.