"Inflation Slowdown Fuels Market Rally: Weekly Recap"
Originally Published 2 years ago — by Investor's Business Daily
The stock market rally continued its upward trend, driven by a mild inflation report that led to a decrease in Treasury yields and the expectation of no further rate hikes by the Federal Reserve. The Nasdaq reached short-term highs, while the Russell 2000 saw gains but faced resistance. Several leading stocks signaled buying opportunities, although some are becoming overextended. Earnings reports from companies like Cisco Systems, Palo Alto Networks, and Alibaba had mixed results, with some stocks tumbling while others held up. Microsoft unveiled its own AI chip, and Walmart and Target reported contrasting earnings. Home Depot's earnings and sales fell again, while Boeing secured significant orders at the Dubai Airshow. Applied Materials is under investigation by the Justice Department, and Chinese internet giants Alibaba, JD.com, Tencent, and NetEase reported their earnings. Off-price retailers TJX and Ross Stores also released their earnings reports.
