Stocks climbed on Friday in the run-up to a pivotal speech by Federal Reserve Chair Jerome Powell that is likely to shape expectations on policy, the economy, and the future path of interest rates. The S&P 500 rose 0.6%, while the Dow Jones Industrial Average added 0.4%. The tech-heavy Nasdaq Composite led gains, up roughly 0.8%, as all three gauges eyed a comeback from Thursday's closing losses.
Slowing economic data has convinced the market to position for the Fed to lower rates in September, with opinion divided on the depth of the cut. Traders are pricing in a 75% chance of a reduction of 25 basis points and 25% odds of 50 basis points, per CME's FedWatch tool. Read more: Fed predictions for 2024: What experts say about the possibility of a rate cut Powell's speech at 10 a.m.
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:
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market today: Nasdaq leads US futures higher as Powell waits in the wingsInvestors are bracing for a pivotal speech by Fed Chair Jerome Powell that is likely to shape expectations on policy, the economy, and the future path of...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Nasdaq leads US futures higher ahead of Powell's Jackson Hole speechInvestors are bracing for a pivotal speech by Fed Chair Jerome Powell that is likely to shape expectations on policy, the economy, and the future path of...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: S&P 500, Nasdaq, Dow rise as wait for Powell beginsInvestors are counting down to a speech by Jerome Powell at Jackson Hole that could reset rate-cut expectations.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Nasdaq edges higher, Dow drops as investors await key signals on inflation, economyWall Street is coming off a whipsaw week that has left markets jumpy and 'on edge.'
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market news today: Nasdaq leads declines as stocks flip to losses, comeback rally loses steamStocks slid on Wednesday as investors looked to build on Tuesday's trading session that snapped a 3-day losing streak.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: S&P 500, Nasdaq rise as rate-cut conviction runs highThe market is weighing how deeply the Federal Reserve could cut interest rates in September on the eve of a key speech by Jerome Powell.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »