Rate-setters have offered few clues on the timing for rate cuts this year and several Fed officials on Monday refrained from noting inflation moderating to the 2% target despite recent data pointing to easing consumer price pressures. Technology stocks kicked off the week on a strong note, driving the tech-heavy Nasdaq to its highest closing level on Monday while the S&P 500 inched closer to its all-time high hit last week.
These companies didn't get a headstart in AI but have massive potential in the market over the long term.
Partly due to the absence of top-tier economic news this week, world markets have found a relatively calm plateau with stocks near their latest records - and even fizzing metals prices cooling a touch. Wednesday's release of both Nvidia's quarterly earnings and the Federal Reserve's latest meeting minutes loom largest as potential game changers - but the broad constellation of influences remains bullish. After recording its lowest close since just before the pandemic on Friday, Wall St's VIX volatility gauge is comfortably subdued and even Treasury market volatility has subsided to seven-week lows.