Posted 1/21/2024, 9:14:46 AM
Stocks Surge to Milestones on Earnings and Economic Data
- Stock markets hit major milestones, with S&P 500 reaching first record high in over 2 years and Nasdaq nearing 2021 peak
- Earnings beats from semiconductor companies signaled downturn ending, driving gains in chipmakers like Nvidia and AMD
- University of Michigan data showed continued consumer strength and slightly lower inflation expectations
- Chicago Fed President comments raise possibility of Fed rate cuts beginning later this year
- Important upcoming events Netflix/Tesla earnings, GDP report, inflation/PMI data, FOMC rate decision