Market Report Dec 14 2023

Stock markets demonstrated robust performance on Wednesday with a significant development. The S&P 500 and Nasdaq 100 reached their highest levels in nearly two years, while the Dow Jones Industrial Average achieved a new ATH.

The bullish momentum yesterday was primarily fueled by the November PPI report, which indicated a reduction in producer price pressures, suggesting a more accommodating stance by the Fed.

In its latest meeting, the FOMC unanimously decided to maintain the federal funds rate between 5.25% and 5.50%, consistent with its previous two meetings. This decision reflects the observation that inflation, while having moderated over the past year, remains a concern.

Significantly still, the FOMC revised its economic projections. It increased its 2023 GDP growth forecast to 2.6% from the 2.1% projection made in September.

Javid Shaik

Dynamic Trader Twitter
Dynamic Trader LinkedIn

Let's go trade!