The Market News Today: Nasdaq Hits Record High Despite Fed Rate Cut Concerns
U.S. stock markets are closed Monday for Memorial Day. Last week, the Dow fell 2.34%, the S&P 500 edged up 0.03%, and the Nasdaq rose 1.41%. Strong Nvidia earnings and improved inflation expectations on Friday drove gains, despite hawkish Fed minutes earlier in the week that tempered expectations for central bank rate cuts this year.