Stocks Rally On Weaker PMI Data, Tech Earnings Optimism, Dollar Falls: What's Driving Markets Tuesday?
Stocks surged across the board on Tuesday, gaining momentum after Monday’s rebound as unexpectedly weak economic data bolstered hopes for a potential Federal Reserve rate cut by the end of the summer. What Happened: The S&P Global’s Purchasing Managers’ Index (PMI) for April indicated a significant deceleration in private sector growth—the slowest in four months—also highlighting reduced inflationary pressures from wages and services. Market-implied probabilities for a rate cut by the Fed as ear
Source: yahoo.com
