Consumer Resilience
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Three Forces Fueled Wall Street’s Record-Setting Week
The market saw a remarkable rebound, with major indices hitting record highs fueled by optimism over a potential Iran peace deal. The S&P 500 and Nasdaq surged, marking the fastest recovery from a significant drawdown since 1990. Strong earnings from financial institutions and a resurgence in the software sector, particularly benefiting from AI trends in cybersecurity, also supported the rally. Consumer resilience was evident in bank earnings, showcasing steady spending and stable delinquency rates.
