Summary of Stock market today: Stocks end banner week with big gains as jumbo Fed cut odds rise
Summary of Stock market today: Stocks end banner week with big gains as jumbo Fed cut odds rise
US stocks gained ground on Friday, posting strong weekly wins after Wall Street's expectations for a jumbo interest rate cut by the Federal Reserve shot up suddenly. The S&P 500 rose 0.5%, while the tech-heavy Nasdaq Composite climbed 0.7%, registering a fifth day of gains for both gauges amid a comeback for tech stocks. The Dow Jones Industrial Average added 0.5% or about 300 points. The gains come as the market warms once again to the likelihood of a half-point rate cut by the Fed after virtually writing off the chances of a big pivot in light of recent inflation and jobs data.
quoting nevent1q…nv0mStock market today: Stocks end banner week with big gains as jumbo Fed cut odds rise
https://s.yimg.com/ny/api/res/1.2/VbFWswYbkfNDxnFVsyZjsA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD04MTQ-/https://s.yimg.com/os/creatr-uploaded-images/2023-08/02594080-4dbf-11ee-aff7-2436c97a5de7
https://finance.yahoo.com/news/live/stock-market-today-stocks-end-banner-week-with-big-gains-as-jumbo-fed-cut-odds-rise-133138647.html
US stocks gained ground on Friday, posting strong weekly wins after Wall Street's expectations for a jumbo interest rate cut by the Federal Reserve shot up suddenly. The S&P 500 rose 0.5%, while the tech-heavy Nasdaq Composite climbed 0.7%, registering a fifth day of gains for both gauges amid a comeback for tech stocks. The Dow Jones Industrial Average added 0.5% or about 300 points. The gains come as the market warms once again to the likelihood of a half-point rate cut by the Fed after virtually writing off the chances of a big pivot in light of recent inflation and jobs data.