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Stocks drifted higher leading into the shortened trading week, which includes the Thanksgiving holiday. The Dow Jones Industrial Average gained nearly 2% for the past week, while the S&P 500 and ...
In the past week, the Dow Jones Industrial Average broke a 10-day losing streak but recorded a loss of 2.3% for the week. The Nasdaq Composite ( ^IXIC ) shed 1.8%, while the S&P 500 ( ^GSPC ) fell 2%.
For the week, the Nasdaq Composite rose more than 1%, while the S&P 500 was near flat. The Dow Jones Industrial Average ( ^DJI ) fell more than 2%. All three indexes were still near record highs.
The Nasdaq Composite , driven in part by artificial intelligence hype, has been the clear winner amid expectations the Fed's rate hiking campaign may be winding down, rising 10% since early May.
In June, Fed officials saw the fed funds rate peaking at 5.1% in 2024, suggesting just one 25 basis point cut to come this year. But the narrative has shifted quite considerably since that time.
The Fed hiked the federal funds rate (overnight interest rates) to a two-decade high of 5.33% between Mar. 2022 and Aug. 2023, in order to tame an inflation surge that resulted from pandemic ...
The Fed is widely expected to hold interest rates steady this Wednesday at its first policy meeting of 2024. Investors will be looking for any clues about when cuts could begin.
The latest reading of the Fed's preferred inflation gauge showed prices increased at a pace in line with Wall Street's expectations in July. The core Personal Consumption Expenditures (PCE) index ...