Stock Markets Rally , Amid Investor Hopes for , Interest Rate Cuts in 2024.<br />On the morning of May 15, both the S&P and the <br />Nasdaq hit all-time highs after new data suggested <br />inflation may be easing in line with expectations.<br />Quartz reports that the Dow Jones Industrial Average <br />is also inching toward the record-breaking <br />40,000 mark, which it almost hit in March. .<br />According to the latest Bureau of Labor <br />Statistics data, April saw the Consumer Price <br />Index, a key gauge of inflation, rise by 3.4%.<br />At the same time, consumer prices <br />increased by 0.3%, slowing slightly <br />from March's 0.4% increase.<br />The latest data also shows that core prices, <br />which don't include food and energy, saw the lowest <br />increase since April of 2021, rising just 3.6%. .<br />As a result, investors have a sense of <br />renewed hope that the Federal Reserve will <br />begin to cut interest rates at some point in 2024.<br />The latest inflation data was released one day <br />after the Producer Price Index, which <br />measures wholesale inflation, increased 0.5%. .<br />Over the past year, the <br />index has increased 2.2%.<br />Shortly after markets opened, the Dow <br />jumped up 147 points, hitting 39,705, while the <br />S&P 500 and the Nasdaq saw 0.5% increases.<br />Shares in GameStop were down 30% after <br />experiencing a boost earlier this week by <br />the online return of investor "Roaring Kitten."
