US Markets Highlights — Jun 26, 2026 | Aivina
June 26, 2026
US markets saw record highs for the S&P 500 and Nasdaq, primarily driven by softer-than-expected May CPI data which fueled hopes for future rate cuts. The Federal Reserve, however, held interest rates steady and revised its 2024 rate cut projections to just one, down from three, indicating continued caution regarding inflation. Despite the Fed's more conservative outlook, strong tech performance and disinflationary signs maintained a bullish sentiment.
Highlights
- S&P 500, Nasdaq hit record highs; tech stocks led gains; investor optimism surged.
- May CPI data cooled; inflation came in softer; boosted rate cut hopes.
- Fed held rates steady; dot plot indicated one cut; tempered market expectations.
Macro Overview
Inflation
May CPI was flat month-over-month, 3.3% year-over-year, softer than expected. Core CPI also cooled, indicating disinflationary progress.
Interest Rate Outlook
Fed held rates, projecting just one 25-bp cut in 2024, down from three. This reflects caution despite recent inflation cooling.
Risk Sentiment
bullish
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