Stocks climb amid hopes Fed is done with hikes: Stock market news today

Stocks on Wall Street edged higher in midday trading on Tuesday amid growing hopes the Federal Reserve is done with interest rate hikes for now but with investors still cautious as the Middle East conflict escalated.in credit conditions the central bank is looking for. That could give policymakers a reason to call an end to raising rates in this cycle, some analysts believe.Easing some pressure on stocks, yields on Treasurys dropped as trading reopened on Tuesday after closing for a holiday.

SAG-AFTRA — the union that represents approximately 160,000 actors, announcers, recording artists, and other media professionals around the world — still remains firmly on the picket lines, although the guildTreasury yields fell on Tuesday, easing off 16-year highs that had spooked markets over the past week.

Broadly, higher inflation could cause the Fed to hike interest rates once more. A rising fed funds rate has been a key driver of yields during this hiking cycle.The International Monetary Fund released its latest World Economic Outlook on Tuesday as IMF chief economist Pierre-Olivier Gourinchas said the global economy still faces uncertainties, especially on the heels of thein Morocco.

Still, the IMF cut its 2024 global GDP forecast to 2.9%, down from its July target of 3.0% and warned that overall global growth will remain low.) rose about 0.2% and 0.1%, respectively. Treasury yields, meanwhile, dropped by the most since March with the note on the 10-year falling 11 basis points to trade near 4.68%The chipmaker's shares rose by almost 2% premarket on Tuesday.

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