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S&P 500 Tops 5,400 As Federal Reserve Holds Rates Steady, Inflation Eases

The CNN Money Fear and Greed index showed further improvement in the overall market sentiment, while the index moved to the “Neutral” zone on Wednesday. U.S. stocks settled mixed on Wednesday, with the S&P 500 settling above the 5,400 level for the first time following the release of inflation data and the Federal Reserve's latest interest-rate decision. The annual CPI inflation rate fell from 3.4% to 3.3% in May, below than the median economist projection of 3.4%. According to Econoday, the economist consensus ranged from 3.3% to 3.5%. The Federal Reserve decided to keep interest rates unchanged within the 5.25-5.50% range for the seventh consecutive meeting on Wednesday, as widely anticipated by the market. However, the updated Summary of Economic Projections (SEP) delivers ...