Stocks rose Wednesday, adding to their recent momentum as expectations for lower U.S. Federal Reserve rates continue driving the major indexes to all-time highs.
The S&P 500 and Nasdaq Composite advanced 0.4% and 0.5%, respectively, reaching fresh record highs. The Dow Jones Industrial Average gained 1250 points, or 0.6%.
AMD popped more than 5% to lead gains in tech. Apple also advanced about 1%, along with Oracle.
Those moves followed a record-setting session Tuesday sparked by a tamer-than-expected inflation report that gave investors hope of a Fed rate cut in September. Traders are pricing in a 99% chance of a rate cut at the Federal Reserve's September meeting, per trading data from the CME's FedWatch Tool.
Thursday's producer price index report on wholesale inflation will add another piece of the economic picture. The report comes ahead of the Fed's Jackson Hole meeting on Aug. 21-23, which could also help shape expectations for the central bank's next policy move.
Source : CNBC
Tested EN...
Asian stock markets weakened for the second consecutive day, indicating that the initial rally that had been "speedy" at the start of the year is starting to lose steam. At the same time, US governmen...
US stocks were mixed on Wednesday as investors weighed uneven economic data against expectations for eventual Federal Reserve easing, with the S&P 500 easing 0.2% and the Dow Jones sliding 0.8% fr...
European stocks were in mixed territory on Wednesday morning, as regional market jitters grow over U.S. President Donald Trump's threat to annex Greenland. The pan-European Stoxx 600 was little chang...
Asian stock markets weakened slightly on Wednesday after posting their best start to the year in history. The decline was driven by a decline in Japanese stocks amid escalating tensions with China. Th...
Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one thing: geopolitical headlines are still more...
Gold prices weakened slightly on Thursday (February 12th), as more solid US employment data reduced market confidence in an imminent Federal Reserve interest rate cut. The strong employment data prompted market participants to shift expectations of...
The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to...