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Dow Jones Nears All-Time High Despite Inflation Concerns, Consumer Sentiment Rises
Dow Jones Nears All-Time High Despite Inflation Concerns, Consumer Sentiment Rises
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The Dow Jones Industrial Average (DJIA) edged closer to its all-time high on Friday, requiring just a 3% gain to join the S&P 500 and Nasdaq 100 in record territory. The index shrugged off a hotter-than-expected Core PCE inflation reading, which showed a 0.2% monthly increase and 2.7% annual rise—both exceeding forecasts.
Market resilience emerged as the University of Michigan's Consumer Sentiment Index jumped 16% month-over-month to 60.7, beating expectations. Inflation expectations declined sharply, with one-year projections falling to 5.0% from 6.6%. This sentiment rebound, the first in six months, offset concerns from the Fed's preferred inflation gauge.
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