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Here’s why the stock market is having such a massive rally today

Posted on AllSides April 27th, 2023
From The Center
Michael M. Santiago | Getty Images

Investors looked past what appeared to be a weak first-quarter GDP report Thursday and instead focused on the longer-term prospects for economic growth, interest rates and inflation.

The 1.1% annualized increase for the first quarter would have been stronger had it not been for an inventories drag, while a stronger-than-expected inflation reading may have been front-loaded to the early part of the year and not representative of where prices are heading.

“The data are setting the Fed up nicely for next week’s meeting,” LPL chief economist Jeffrey Roach said. “As...

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https://www.cnbc.com/2023/04/27/heres-why-the-stock-market-is-having-such-a-massive-rally-today.html

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