Stock Market Today: S&P 500 notches weekly win as Powell tees up rate cuts

Investing.com-- U.S. stocks rallied Friday, as Treasury yields swung lower after Federal Reserve Chair Jerome Powell signaled rate cuts were on the way.amid cooling inflation and a softer labor market. The Fed chief also appeared to keep the door open to a bigger rate cut, saying the size of rate cuts as well as the frequency would depend on incoming data.

The odds of a larger 50 basis cut at the September rose to 36% from 28% the previous day, according to Investing.com's), allowing the latter's self-driving vehicles to be launched on Uber's ride-hailing platform. Uber was up 1%, while General Motors rose more than 4%. "Workday surprised most investors by making a pronounced and very welcome pivot on the growth-margin trade-off, backing off the previous FY27/3-year CAGR of 17-19% and setting it at 15%," UBS said in a Friday note. The company also raised the fiscal 2027 non-GAAP operating margin target to 30% from 25% and announced a $1B stock buyback plan.Robert F. Kennedy Jr. suspending his U.S. presidential campaign on Friday and endorsed Republican presidential candidate Donald Trump.

“I am not terminating my campaign I am simply suspending it and not ending it. My name will remain on the ballot in most states,” he said at an event on Friday in Arizona.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.

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