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Shopify offices in Toronto on May 13, 2024. May 13, 2024. (Sammy Kogan/The Globe and Mail)
The close: Wall Street boasts fresh records as inflation data fuels rate-cut bets
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Powell says he expects U.S. inflation to continue falling in 2024, though not as confident as before
FILE PHOTO: U.S. Federal Reserve Chair Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee in Washington, U.S., May 1, 2024. REUTERS/Kevin Lamarque/File Photo
The close: Nasdaq at record high after Fed chair’s comments but TSX dips for third day
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., May 8.
Corporate greed has not been a primary driver of U.S. inflation, Fed study shows
(FILES) People shop in the food section of a retail store in Rosemead, California, on January 19, 2024. The US central bank's favored measure of inflation accelerated in March, according a statement from the Commerce Department on April 26, 2024. The personal consumption expenditures (PCE) price index rose at an annual rate of 2.7 percent in March, up 0.2 percentage points. (Photo by Frederic J. BROWN / AFP) (Photo by FREDERIC J. BROWN/AFP via Getty Images)
The close: S&P 500, TSX slip as investors await inflation data; meme rally reignites
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., May 8.
Markets and economists react: BoC June rate cut bets slashed after unexpectedly strong jobs data
Governor of the Bank of Canada Tiff Macklem listens to question at a news conference on the Bank of Canada’s release of the 2024 Financial Stability Report, in Ottawa, on Thursday, May 9, 2024. THE CANADIAN PRESS/Justin Tang

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