The S&P 500 rose +0.02%, the Nasdaq gained +0.1%, and the Dow climbed +0.4%, all touching fresh highs as falling oil prices lifted sentiment. The biggest driver was optimism around lower energy costs and ongoing AI-related trading momentum. Today, watch the PCE inflation reading (the Fed’s preferred price gauge), GDP data, and weekly jobless claims — all dropping this morning. 📌

Stocks keep climbing, powered by cheaper oil and excitement around AI. Goldman Sachs raised its year-end S&P 500 price target to 8,000 points, implying a 17% annual return driven largely by AI-fueled trading. Reports of a possible U.S.-Iran deal on the Strait of Hormuz added to the upbeat mood, even though analysts say the deal is unlikely to meaningfully benefit the U.S. But underneath the optimism, cracks are showing. First-quarter GDP came in at just 1.6%, well below the 2.0% forecast and signaling a slowdown. Weekly jobless claims rose to 215,000, above the expected 211,000, hinting at softening in the job market. The core PCE index held steady at 3.3% year-over-year but dipped to 0.2% month-over-month. JPMorgan CEO Jamie Dimon warned conditions could shift quickly, comparing today’s market to 1972 and 2007. TrendMind.AI 📖

A measure of price changes for goods and services bought by consumers, excluding volatile food and energy costs. The Fed considers it the most reliable gauge of inflation trends. Why you care today: The monthly core PCE reading came in at 0.2%, below the 0.3% forecast, which could signal the Fed will be slower to raise interest rates. 💼