U.S. stocks rebounded modestly after a sharp selloff, driven by the Federal Reserve's forecasts of fewer interest rate cuts and rising inflation. Economic data supported the Fed's outlook, with jobless claims falling and Q3 GDP revised up to 3.1%. The Dow aimed to end a ten-session losing streak, while bank stocks rose as Treasury yields increased.
U.S. stocks fell on Tuesday, with the Dow experiencing its longest losing streak since February 1978, dropping for the ninth consecutive session. Investors are cautious ahead of the Federal Reserve's policy announcement, anticipating a 25 basis point rate cut, while economic data shows solid consumer spending. The S&P 500 and Nasdaq also declined, though Tesla's stock rose significantly after a price target increase.
The Nasdaq reached a record high as investors anticipated a Federal Reserve rate cut, with a 95.4% probability for a 25 basis point reduction. The S&P 500 also rose, buoyed by gains in major tech stocks, while economic indicators showed a decline in manufacturing activity. Retail sales data is expected to provide further insights ahead of the Fed's decision.
Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.
