Stock market today: S&P 500, Nasdaq rise as Fed minutes signal 'likely' September rate cut

US stocks were higher on Wednesday after snapping their longest win streak this year as investors digested minutes from the Federal Reserve's latest meeting that showed most officials favored a September rate cut if inflation continued to cool. The S&P 500 rose around 0.4%, while the tech-heavy Nasdaq Composite popped more about 0.6%. The Dow Jones Industrial Average was about 0.1% higher.

Earlier on Wednesday, new data showed the US economy employed 818,000 fewer people than originally reported as of March 2024, showing the labor market may have been cooling long before initially thought. But economists were pointed out the updated data still reflect a labor market that's softening but not "rapidly deteriorating." Investors are still largely treading cautiously ahead of Jerome Powell's appearance at the Jackson Hole symposium on Friday.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: S&P 500, Nasdaq futures rise ahead of Fed minutes, jobs reviewInvestors marking time before Jackson Hole will get Fed minutes and jobs data revisions that could shift the needle on rate cut bets.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market news today: S&P 500, Nasdaq climb as Fed delivers and Meta jumpsStrong Meta results are keeping bullish tech hopes aloft after the Fed cemented bets on a September rate cut.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market news today: S&P 500, Nasdaq futures climb as Fed delivers and Meta jumpsStrong Meta results are keeping bullish tech hopes aloft after the Fed cemented bets on a September rate cut.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: S&P 500, Nasdaq notch longest win streaks of 2024 as August turnaround continuesInvestors are counting down to a speech by Jerome Powell at Jackson Hole that could reset rate-cut expectations.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: S&P 500, Nasdaq, Dow rise as wait for Powell beginsInvestors are counting down to a speech by Jerome Powell at Jackson Hole that could reset rate-cut expectations.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: S&P 500, Nasdaq jump higher as key inflation data comes in coolInvestors are anxious for several economic datapoints this week, starting with inflation.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »