The S&P 500 fell as a higher-than-expected inflation reading raised concerns about the Federal Reserve’s stance on interest rate cuts. CVS Health and Gilead Sciences surged on positive quarterly reports, while Nvidia and Amazon declined. Fed Chair Jerome Powell reiterated that there is no rush to cut rates further, and Treasury yields rose after the inflation data. The S&P 500 fell as a higher-than-expected inflation reading raised concerns about the Federal Reserve’s stance on interest rate cuts. CVS Health and Gilead Sciences surged on positive quarterly reports, while Nvidia and Amazon declined. Fed Chair Jerome Powell reiterated that there is no rush to cut rates further, and Treasury yields rose after the inflation data. Economic Times
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