Stocks jumped Thursday, with Big Tech leading, as traders cheered another report pointing to cooling U.S. inflation. The Dow popped 1.14%. The S&P 500 gained 1.33%. The Nasdaq surged 1.99%.
"The market was a little poised to potentially go up on any positive news, and in this case, the PPI number was quite a bit better than expected. And I think that gives people some comfort that in fact the Fed probably doesn't have to raise rates in the next meeting," said Spouting Rock Asset Management's Rhys Williams.from the March Federal Open Market Committee meeting showed the Fed expects the recent banking crisis to cause a mild recession later this year.
remains a top pick in media after the conglomerate unveiled new information into its streaming service that's launching next month.the new streaming platform from Warner Bros. Discovery launching May 23 "As such, we believe that a successful roll-out of max during 2023-2024 could be an incremental positive catalyst for the stock, beyond investors' outlook for material cost synergies."
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