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U.S. Stocks Rally on Rate Cut Hopes as Tech Sector Outperforms
U.S. Stocks Rally on Rate Cut Hopes as Tech Sector Outperforms
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U.S. equities advanced Thursday as softening inflation data bolstered expectations for Federal Reserve rate cuts later this year. The S&P 500 climbed 0.38% to 6,045.26, led by big tech names, while the Nasdaq and Dow each gained 0.24%.
Oracle''s 13% surge stole the spotlight after projecting 70% cloud revenue growth fueled by AI demand, lifting the broader tech sector. The rally persisted despite Boeing''s 4.8% drop following a Dreamliner incident in India.
Market sentiment found support in economic data suggesting room for policy easing. May''s PPI ROSE just 0.1%, while jobless claims indicated labor market cooling - both reinforcing the case for dovish Fed action.
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