12 February 2024
The S&P 500 hit a record high, closing above 5,000 for the first time after a strong few weeks driven by better-than-expected company earnings and the Federal Reserve’s consistent message on inflation. This week, all eyes are on the Consumer Price Index (CPI) for January, with experts predicting a year-on-year increase of 2.9%, down from December’s 3.4%. This suggests that while inflation is expected to have slowed, careful monitoring continues. The CPI measures changes in the price level of a basket of consumer goods and services, including food and energy, providing a key indicator of inflationary trends.