US Stock Market Rally Continues Amid Economic Uncertainty

Recent economic indicators show a positive shift in the US, with stock markets rebounding significantly after earlier recession fears. The Dow Jones saw a surge of 1,100 points, while the Nasdaq and S&P 500 also experienced notable gains, indicating a broader investor confidence. Goldman Sachs' Chief Economist highlighted that inflation is easing and consumer spending remains strong, suggesting that a recession is not imminent. JP Morgan, however, raised its recession probability to 35% for 2024, but markets largely dismissed this warning. Meanwhile, housing starts have declined, and the Federal Reserve may consider a modest rate cut at its upcoming meeting. Overall, the sentiment on Wall Street reflects optimism despite underlying economic challenges.