S&P 500 Tops 6,500 on Signs Economy in Good Shape: Markets Wrap

S&P 500 Tops 6,500 on Signs Economy in Good Shape: Markets Wrap

A solid economic reading drovestocksto fresh all-time highs, but Wall Street traders refrained from making big moves before inflation data that could bring more clues on the pace ofFederal Reserverate cuts. Short-datedTreasury yieldsrose. Thedollarfell.

Just 24 hours ahead of the release of the Fed’s favored price gauge, data showed theUS economyexpanded faster than initially estimated, underscoring the resilience of America’s primary growth engine — consumer spending.

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