Investors eagerly awaited a series of speeches from Federal Reserve officials on Friday, as US stocks continued their upward trend. The Dow Jones Industrial Average rose by approximately 0.2%, while the S&P 500 saw a gain of about 0.3%, surpassing the 5,200 mark for the first time in a month. The Nasdaq Composite also experienced a 0.2% increase at the start of trading.
This surge in the stock market comes after a period of decline in April, with the Dow achieving its longest winning streak of the year. The possibility of an earlier-than-expected interest rate cut by the Federal Reserve, due to recent indications of a weakening labor market, has contributed to the positive sentiment among investors.
Market participants will be closely monitoring the speeches from various Fed officials for insights into the timing and likelihood of a policy easing. Michelle Bowman,…
2024-05-10 08:31:23
Originally published on finance.yahoo.com