Nasdaq Vs. S&P 500 Vs. Dow Jones
The Fed funds target rate now stands in the 5.00%-5.25% range, following 500 basis points of hikes since March 2022. The market took those comments as a signal that a peak in U.S. rates had been reached and moved to price in rate cuts later this year, despite Fed Chair Jerome Powell pushing back on such expectations.
"We are prepared to do more" he warned, with policy decisions from June onward to be made on a"meeting-by-meeting" basis.
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