Fed Holds Rates Steady While BoJ Ends Negative Rates Amid Economic Strength; US Stocks Rise on Nvidia Rally
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The Federal Reserve maintained interest rates, signaling 3 expected rate cuts this year. The Bank of Japan ended its 8-year negative interest rate policy amid economic strength.
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US equity prices rose over the past week, lifted by a 7.35% gain in Nvidia following its developer conference.
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As US assets get more expensive, alternatives may look attractive, but markets don't turn just because one changes their mindset. Patience is key.
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This week, investors will focus on inflation data and commentary from 5 Fed leaders for signs of concern on prices.
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The Morningstar US Market Index rose 2.29% this past week. Gainers included Gap, Micron, Lyft, Sabre, and Rocket Companies. Losers were Lululemon, Accenture, Hanesbrands, Sinclair, and EPAM Systems.