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2024-08-21
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Title: US Stock Market: Rebounding from Global Sell-Off Amid Economic Data and Fed Meeting
The US stock market has experienced a notable rebound following a global sell-off, with the S&P 500 and the Dow Jones Industrial Average posting gains in recent days. This recovery comes amid a flurry of economic data releases and the upcoming Federal Reserve meeting, which is expected to provide further insight into the central bank’s monetary policy.
Key economic data points include:
1. Nonfarm payrolls: The US economy added 263,000 jobs in April, exceeding expectations, while the unemployment rate fell to 3.6%.
2. Inflation: The Consumer Price Index (CPI) rose 0.3% in April, with the core CPI, which excludes food and energy prices, increasing 0.2%.
3. Retail sales: Retail sales in the US increased 0.7% in April, marking the fifth consecutive monthly gain.
The Federal Reserve is set to hold its two-day policy meeting starting on May 3, 2023. Market participants will be closely watching for any updates on the central bank’s interest rate outlook and its assessment of the current economic conditions.
Looking forward, investors will continue to monitor economic data releases and geopolitical developments, as well as corporate earnings reports, for signs of potential market trends and shifts. The ongoing recovery in the US stock market, coupled with the upcoming Fed meeting, is likely to keep market volatility elevated in the near term.
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