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Stock market today: Stocks climb as S&P 500 notches best 3-day run of 2024

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John Williams,The Federal Reserve,Fed Officials

Stocks rallied at the end of last week, getting a boost from a 'Goldilocks' jobs report.

Stocks closed near session highs Monday, as the S&P 500 notched its best three-day run in a rip-roaring 2024. Wall Street continued to build on an end-of-week surge precipitated by a softer-than-expected jobs report that helped spur bets toward an earlier rate cut from the Federal Reserve. The S&P 500 gained 1%, while the tech-heavy Nasdaq Composite rose 1.2%. The Dow Jones Industrial Average increased almost 0.5%.

Williams assured eventually "we'll have rate cuts," but for now monetary policy is in "a very good place." Also on Monday, Federal Reserve Bank of Richmond president Thomas Barkin expressed optimism that inflation will come down to 2% as "the full impact of higher rates is yet to come." Minneapolis's Neel Kashkari is set to speak on Tuesday. In corporate news, Disney will take center stage this week as earnings season starts to wind down.

 

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