Global News on Nostr: TSX posts small gain, U.S. markets rise ahead of Fed rate meeting and earnings ...
TSX posts small gain, U.S. markets rise ahead of Fed rate meeting and earnings
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The S&P/TSX composite index closed up 42.38 points at 22,011.62. In New York, the Dow Jones industrial average was up 146.43 points at 38,386.09. The S&P 500 index was up 16.21 points at 5,116.17, while the Nasdaq composite was up 55.18 points at 15,983.08. This week, "all eyes are going to be on the Fed," said Brianne Gardner, senior wealth manager of Velocity Investment Partners at Raymond James Ltd. Coming into the year, markets expected about six cuts to the central bank’s key rate by the end of 2024. But a succession of stronger-than-expected economic reports have eroded those expectations. "Things are slowing, even though there’s still strong growth and employment figures," she said. Now, expectations are closer to just one cut this year, said Gardner, with some expecting zero. While the interest rate decision itself appears all but decided, investors will be watching for any comments from Fed officials on their direction, said Gardner.
#Tsx #UsMarkets #FedRateMeeting #Earnings #StockMarket #InterestRates
https://globalnews.ca/news/10458189/tsx-april-29-2024/
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The S&P/TSX composite index closed up 42.38 points at 22,011.62. In New York, the Dow Jones industrial average was up 146.43 points at 38,386.09. The S&P 500 index was up 16.21 points at 5,116.17, while the Nasdaq composite was up 55.18 points at 15,983.08. This week, "all eyes are going to be on the Fed," said Brianne Gardner, senior wealth manager of Velocity Investment Partners at Raymond James Ltd. Coming into the year, markets expected about six cuts to the central bank’s key rate by the end of 2024. But a succession of stronger-than-expected economic reports have eroded those expectations. "Things are slowing, even though there’s still strong growth and employment figures," she said. Now, expectations are closer to just one cut this year, said Gardner, with some expecting zero. While the interest rate decision itself appears all but decided, investors will be watching for any comments from Fed officials on their direction, said Gardner.
#Tsx #UsMarkets #FedRateMeeting #Earnings #StockMarket #InterestRates
https://globalnews.ca/news/10458189/tsx-april-29-2024/