Stock Market Today: S&P 500 closes higher as rate cut hopes fuel rally

Investing.com-- U.S. stocks rose in early trading on Monday, on revived hopes for a September Federal Reserve interest rate cut after a weaker-than-expected April jobs report.

New York Fed president John Williams said Monday that eventually there will be rate cuts, though cautioned that the recent trade upside surprise in the inflation data was a worry for the central bank. Hamas reportedly accepted the terms of a ceasefire deal brokered by Egypt and Qatari, but an Israeli official told Reuters that the deal was a "softened" version of an earlier Egyptian proposal.

Baird upgraded Micron to outperform from buy, and hiked its price target on the stock to $150 from $115, citing "meaningful upside opportunities ahead."why would you think the Fed is going to drop rates when inflation is going back up stock market is at all-time highs what would be the incentive to drop rates?Economy is cooling . Wages are cooling. Employment is probably cooling . Inflation, apart from the last 2 months, was going down, and went down from 8% to 2.5% over the last year.

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