US EditionPublished • loading... • Updated
Wall Street edges back from its record heights
Investors expect the Federal Reserve's first rate cut of 2025 to support the economy amid inflation and job market concerns, with 58% of fund managers noting stocks as overvalued, Bank of America said.
- Wall Street drifted Tuesday as U.S. stocks edged back from record highs ahead of the Federal Reserve's anticipated rate cut on Wednesday.
- Traders say the job market has slowed, and Fed officials now see it as the bigger near-term risk while releasing updated Fed projections.
- The S&P 500 fell 0.1% to 4,590.20, while Steel Dynamics rose 6.9% after reporting improved earnings, and Dave & Buster's dropped 16.9% following weaker profits.
- Markets are awaiting Powell's press conference after Wednesday's Fed decision, while the 10-year Treasury yield eased to 4.03% from 4.05%.
- Looking ahead, fund managers are tilting their portfolios toward stocks at the highest level in seven months, while traders expect multiple cuts through 2025 and into 2026.
Insights by Ground AI
38 Articles
38 Articles
Ottumwa Courier+3 Reposted by 3 other sources
Wall Street drifts a touch below its record heights
U.S. stocks drifted a bit below their record heights. The S&P 500 slipped 0.1% Tuesday, coming off its latest all-time high. The Dow Jones Industrial Average lost 0.3%, and the Nasdaq composite fell 0.1%. Stocks have run to records on…
Coverage Details
Total News Sources38
Leaning Left13Leaning Right1Center18Last UpdatedBias Distribution56% Center
Bias Distribution
- 56% of the sources are Center
56% Center
L 41%
C 56%
Factuality
To view factuality data please Upgrade to Premium
