US stocks edged higher on Friday, setting the stage for strong weekly wins after Wall Street's expectations for a jumbo interest rate cut by the Federal Reserve shot up overnight. The S&P 500 moved up about 0.2%, while the tech-heavy Nasdaq Composite climbed just over the flat line to point to a fifth day of gains for both gauges amid a comeback for tech stocks. The Dow Jones Industrial Average also added roughly 0.2%.
Adding to the debate, influential former New York Fed president Bill Dudley said there's a "strong case" for a deeper cut. The yield on the benchmark 10-year Treasury slipped early Friday, down 2 basis points at around 3.66%. At the same time, the yield on 2-year notes, seen as sensitive to monetary policy, dropped to just above 3.58%.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market today: US stocks rise as Fed-favored PCE inflation print hits the markThe market is steadying to end the month, with recession fears and the early August rout in the rear mirror, and a long awaited start to Fed easing just...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: US futures rise with jumbo Fed cuts back on the tableThe stage is set for strong weekly wins after Wall Street's expectations for a 0.5% rate cut by the Fed shot up overnight.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Wall Street climbs ahead of speech by Fed chief PowellNEW YORK (AP) — Stocks are climbing on Wall Street, but the market’s focus is thousands of miles to the west, where the head of the Federal Reserve is about to give a highly anticipated speech about interest rates. The S&P 500 was 0.
Source: SooToday - 🏆 8. / 85 Read more »
Stock market today: US futures climb in wait for Fed-favored PCE inflation printThe market is steadying to end the month, with recession fears and the early August rout in the rear mirror, and a long awaited start to Fed easing just...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: S&P 500, Nasdaq resume climb as Fed minutes signal 'likely' September rate cutInvestors marking time before Jackson Hole will get Fed minutes and jobs data revisions that could shift the needle on rate cut bets.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: S&P 500, Nasdaq resume climb as Fed minutes signal 'likely' September rate cutInvestors marking time before Jackson Hole will get Fed minutes and jobs data revisions that could shift the needle on rate cut bets.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »