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Dow, S&P 500 edge up as rate-cut bets firm; energy stocks rise

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Aug 26 - The Dow and the S&P 500 inched up in choppy trading on Monday as markets cemented bets on an imminent rate cut by the Federal Reserve and awaited Nvidia results later in the week, while energy stocks were boosted after crude oil prices jumped.

Odds of a 25-basis-point rate cut stand at 69.5%, while those of a 50-bps cut are at 30.5%, according to the CME Group's FedWatch tool. At 9:58 a.m. ET, the Dow Jones Industrial Average , was up 171.49 points, or 0.42%, at 41,346.57, the S&P 500 , was up 6.01 points, or 0.11%, at 5,640.62, and the Nasdaq Composite , was down 36.60 points, or 0.20%, at 17,841.20.

Markets have been less forgiving this quarter of highly valued megacap stocks, which spearheaded the excitement around artificial intelligence.

 

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