Why are stocks up today
Stocks are up today due to a combination of factors. For starters, there is renewed interest in a group of highly speculative meme stocks, as well as Bitcoin and Ether's highest levels since August. Markets are also rallying in the face of bad news pushing stocks up across the board.
Additionally, the recent release of the Core CPI, which excludes volatile energy and food prices, increased 5.7% on an annual basis, marking the lowest increase in the Fed's benchmark rate since March 2022. This, combined with the fact that average returns of all recommendations since inception have been rising, have contributed to the stock market's overall increase today.
Last but not least, continued unemployment claims rose to 1.71 million, indicating that usage trends have improved from the second quarter to the third, which is a positive development. All of these factors have helped to boost stocks today.
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