MARKET RECAP

• US stocks rally by 4.05%, international stocks by 2.39%, and bonds by 0.54%. The NASDAQ was up by 5.95%. The S&P is just 1% of its record price.
• The Fed is on the clock this week, with the only question being if it cuts by 25 or 50 basis points.
• The market expects the Fed Funds rate to be 4.16% at year-end and 2.89% at the end of 2025.
• CPI came in at plus 2.5% compared to last year. That was a three year low. Core CPI remained steady at 3.2%.

SCOREBOARD