US EditionWall Street Climbs to More Records on Hopes for Cuts to Interest Rates
Strong earnings from Broadcom, with AI revenue up 63%, and weaker job market data have raised expectations for a Federal Reserve rate cut to boost the economy.
- On Friday, U.S. stocks rose near record levels as investors priced in Fed easing, with the S&P 500 climbing 0.4% alongside gains in the Dow Jones Industrial Average and Nasdaq composite.
- Softer hiring in recent reports prompted concern after the U.S. government said earlier estimates overstated hiring by 21,000, following a grim July jobs report with broad downward revisions.
- The two-year Treasury yield fell to 3.48% from 3.59%, amplifying expectations of Fed easing, while Broadcom Inc. surged 10.3% after reporting strong profit, revenue, and AI growth.
- An expected Fed move on September 16 could lower mortgages, vehicle loans and business loans, as Federal Reserve Chair Jerome Powell has signalled a cut is possible.
- Traders are pricing a near-certain Fed cut at the next meeting, with indexes rising 1.4% in Hong Kong and 1.2% in Shanghai, reflecting international markets' reaction.
Insights by Ground AI
Does this summary seem wrong?
39 Articles
39 Articles
The Detroit News+32 Reposted by 32 other sources
Wall Street climbs to more records on hopes for cuts to interest rates
U.S. stocks are rising further into record heights on Friday after the latest disappointing signal on the job market bolstered expectations that the Federal Reserve will have to cut interest rates soon to help the economy.
·Detroit, United States
Read Full Article
The DI rate maturing in January 2027 fell from 13.97% to 13.92% and the DI rate for January 2031 plummeted from 13.63% to 13.475%.
·Brazil
Read Full Article
Ahead of the U.S. jobs report being released tonight, there is a possibility of a wait-and-see market. U.S. Treasury yields have stabilized downward for two consecutive days, and gold prices have also halted their record highs. The New York stock market closed higher on expectations of a rate cut by the U.S. Federal Reserve (Fed).
Coverage Details
Total News Sources39
Leaning Left9Leaning Right1Center22Last UpdatedBias Distribution69% Center
Bias Distribution
- 69% of the sources are Center
69% Center
L 28%
C 69%
Factuality
To view factuality data please Upgrade to Premium
