US EditionStocks push higher ahead of expected US rate cut
Elon Musk purchased $1 billion in Tesla shares, contributing to rising stock markets amid expectations of a US Federal Reserve interest rate cut this week.
- Stocks mainly rose on Monday across Wall Street and Europe ahead of an expected US Federal Reserve rate cut this week.
- This optimism followed the US and China announcing a framework deal to resolve their TikTok dispute, involving US-controlled ownership of the app.
- Corporate updates included Ingenta's pre-tax profit increasing 96% to £1.2 million and AO World reporting revenue 13% higher over six months to June 30.
- Danni Hewson from AJ Bell indicated that the process leading to Argos being put up for sale appears to have officially begun, despite Sainsbury’s having declined an offer.
- These market moves imply investors price in a US rate cut soon while UK rates are expected to hold steady amid slower retail growth and a softening labour market.
47 Articles
47 Articles
ABC FOX Montana
Stocks push higher ahead of expected US rate cut
Stock markets mostly rose Monday as traders geared up for an expected interest rate cut by the US Federal Reserve this week.
Stock prices on major European stock exchanges have mostly risen today. Indices in New York are also in the green. Investors are optimistic that the US Federal Reserve (Fed) will cut its key interest rate this week. Oil prices are rising slightly, and the euro is strengthening against the dollar.
The US stock exchanges continued their record-breaking hunt on Monday. Both the technology indices Nasdaq 100 and Nasdaq Composite as well as the market-wide stock market barometer S&P 500 reached highs.
The week will be marked by the meeting of the Federal Reserve that is expected to drop rates
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