S&P 500 Nears All-Time High
December 5, 2025
1,782
16
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6:32Now PlayingS&P 500 Nears All-Time High
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as posted by the channelBarbara Reinhard, CIO: Multi Asset Strategies & Solutions at Voya Investment Management, discusses how equities are stabilizing as investors weigh rate cuts.
US stocks extended its bull run after a dated reading of the Federal Reserve’s preferred inflation gauge. Treasuries are on track for their worst week since June.
The S&P 500 rose 0.5% after the data, within a whisker of October’s all-time high. The Nasdaq 100 climbed 0.9%. The Russell 2000 gauge of smaller companies edged higher after closing at a record on Thursday. Treasuries extended losses with the yield on the 10-year hovering around 4.11%.
The core personal consumption expenditures price index, a measure that excludes food and energy, rose 0.2% in September, inline with economists expectations for a third-straight 0.2% increase in the Fed’s favored core index. That would keep the year-over-year figure hovering a little below 3%, a sign that inflationary pressures are stable, yet sticky.
“The goods inflation acceleration is pretty clearly a function of tariffs, but since Fed officials are willing to look through this (as most on the Fed look at tariff-driven price increases as a one-time phenomenon) and given that services prices eased, Sept PCE is modestly net positive/dovish,” wrote Vital Knowledge’s Adam Crisafulli.
A US interest rate cut next week is largely priced in with bets pointing to further easing into 2026.
“Overall, the data was consistent with another 25 basis point Fed cut next week, but it doesn’t suggest any urgency for the Fed to accelerate the pace of cuts in 2026,” said BMO’s Ian Lyngen.
Meanwhile, sentiment toward technology stocks got a boost after Nvidia Corp. partner Hon Hai Precision Industry Co. reported strong sales. Moore Threads Technology Co., a leading Chinese AI chipmaker, jumped 425% in its Shanghai trading debut. Shares of Netflix Inc. wobbled after agreeing to a tie-up with Warner Bros. Discovery Inc.
In a sign that institutional appetite for the world’s largest cryptocurrency remains subdued, BlackRock Inc.’s iShares Bitcoin Trust ETF (IBIT) recorded its longest streak of weekly withdrawals since debuting in January 2024.
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