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Wall Street Rises to the Edge of Its All-Time High
U.S. stocks climb on bets for a Federal Reserve interest rate cut next week with the S&P 500 just 0.1% below its record, helped by strong gains at Ulta Beauty.
- On Thursday, the S&P 500 rose 0.4% and sat 0.1% below its all-time record as the Dow Jones Industrial Average climbed 189 points and the Nasdaq composite was 0.4% higher.
- Traders expect a Fed cut next week to support a slowing U.S. job market, and investors favor lower rates because they boost asset prices.
- Corporate earnings and takeover headlines drove moves as Ulta Beauty jumped 11.2% after stronger profit and CEO Kecia Steelman noted e-commerce growth, while Netflix's $72 billion Warner Bros. deal sparked volatility.
- Treasury yields held relatively steady as the 10-year Treasury yield edged down to 4.10% from 4.11% late Thursday, while the two-year Treasury yield ticked up to 3.54% from 3.52%.
- Inflation staying above the Fed's 2% target complicates policy as Japanese markets remain shaky after Bank of Japan hinted at hikes; Germany's DAX rose 0.9% and South Korea's Kospi jumped 1.8%, while Tokyo's Nikkei 225 fell 1.1% after weak spending.
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72 Articles
72 Articles
Coverage Details
Total News Sources72
Leaning Left16Leaning Right4Center37Last UpdatedBias Distribution65% Center
Bias Distribution
- 65% of the sources are Center
65% Center
L 28%
C 65%
Factuality
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