Excitement in the U.S. stock market as futures rise following the Federal Reserve’s decision to keep interest rates steady, easing concerns about potential rate hikes. Investors now turn their attention to a flurry of earnings reports expected throughout the day.
Fed chair Jerome Powell’s comments on inflation and interest rates have sparked optimism, with the likelihood of a rate cut in September at 58% and a higher chance in November at 69%, according to the CME FedWatch tool.
Preston Caldwell, chief U.S. economist at Morningstar, noted the Fed’s acknowledgment of slow progress in reducing inflation but expressed confidence in the current monetary policy to eventually reach the 2% target.
2024-05-02 05:24:02
Link from finance.yahoo.com