Your current location is:{Current column} >>Text
Stock Market Today: S&P 500 closes higher as Fed minutes boost Sept rate cut hopes By
{Current column}12965People have watched
Introduction-- The S&P 500 closed higher Wednesday as the minutes of the Federal Reserve's July meeting bols ...
-- The Forex Official WebsiteS&P 500 closed higher Wednesday as the minutes of the Federal Reserve's July meeting bolstered expectations for a rate cut next month, overshadowing concerns about the economy following softer labor market data.
At 16:00 ET (20:00 GMT), the rose 55 points, or 0.1%, the index rose 0.4%, and the rose 0.6%.
Fed members give clearest signal yet of September cut
The "vast majority" of Federal Reserve policymakers signaled that it may be appropriate to begin cutting rates next month should the recent progress on inflation continue, the of the Fed's July meeting showed on Wednesday.
"The vast majority observed that, if the data continued to come in about as expected, it would likely be appropriate to ease policy at the next meeting.," the minutes of Fed's July meeting showed.
About 63% of traders expect the Fed to deliver a rate cut next month, according to 's
The minutes arrived just days ahead of Chair Jerome Powell's speech at the economic symposium at Jackson Hole on Friday.
Payrolls revised sharply lower
Investors gained in confidence Wednesday after data showed that the U.S. economy added significantly fewer jobs than first reported during the past year.
The Bureau of Labor Statistics revised down March 2024’s employment gains by 818,000 positions earlier in the session, as part of the agency’s annual benchmark review of payroll data.
Markets are trading in a cautious manner as investors look for clues over the Federal Reserve's intention at its next policy-meeting in September.
The report from the Bureau of Labor Statistics over potential revisions to the recent nonfarm payrolls data is due later in th session, and most economists expect a downwards revision.
Goldman Sachs forecast that 600,000 to 1 million fewer jobs were created from April 2023 to March 2024 than previously reported, although the influential investment bank stated that the
, Keysight technologies shine, but Macy's, La-Z-Boy slump on earnings stage
Target Corporation (NYSE:) stock rose 11% after the big box retailer raised its annual profit forecast and beat expectations for second-quarter comparable sales, with customers drawn in by low priced groceries and essentials.
Macy’s (NYSE:) stock, by contrast, fell 13% after the department store chain missed market expectations for quarterly revenue as lingering weakness in U.S. consumer spending hurt demand for big-ticket, non-essential goods.
(NYSE:) stock surged 13% after its earnings beat estimates and the company talked up expectations for a "gradual recovery" in 2025.
Furniture maker La-Z-Boy Incorporated (NYSE:) stock dropped 3% as a weaker-than-expected guidance largely offset strong earnings.
JD.com falls on Walmart plans to sell stake; Ford scales back EV plan
Chinese e-commerce firm JD.com (NASDAQ:) stock slid over 4% after Bloomberg reported that Walmart (NYSE:) planned to sell its stake in the firm for about $3.7 billion.
Ford Motor Company (NYSE:) gained more than 1% after scrapping its planned three-row electric SUV and delaying the roll out of a new F-150 as the automaker deals with softer demand.
(Peter Nurse, Ambar Warrick contributed to this article.)
Statement: The content of this article does not represent the views of FTI website. The content is for reference only and does not constitute investment suggestions. Investment is risky, so you should be careful in your choice! If it involves content, copyright and other issues, please contact us and we will make adjustments at the first time!Tags:
Related articles
Crude oil extends gains after OPEC output cut; API data due By
{Current column}By Peter Nurse -- Oil prices rose Tuesday, extending the previous session’s hefty gains in the wak ...
Read moreAsking prices for UK houses jump again in April
{Current column}© Reuters. FILE PHTO: An estate agent's board is displayed outside a house on a terraced street in B ...
Read moreAlibaba's Freshippo adds more couriers, still unable to meet Shanghai demand By Reuters
{Current column}© Reuters. FILE PHOTO: A man walks past a logo of Alibaba Group at its office building in Beijing, C ...
Read more
Popular Articles
- S&P 500 flounders on tech wreck as economic concerns weigh By
- Alibaba's Freshippo adds more couriers, still unable to meet Shanghai demand By Reuters
- Putin warns West of lightning retaliation; sanctions batter Russian economy By Reuters
- Asking prices for UK houses jump again in April
- Dollar tests two
- Alphabet Earnings, Microsoft Report, Consumer Confidence: 3 Things to Watch By
Latest articles
-
Dollar rebounds from one
-
Britain's Morrisons picks out over 500 products for price cuts By Reuters
-
PayPal shares rise despite cut in annual profit view By Reuters
-
U.S. Stocks Rebound as Earnings Continue to Pour in By
-
Oil up 2% again on bull hype over talk of SPR refill, U.S. rate pause By
-
Huge Fire at Fuel Storage on Russia's Biggest Oil Pipeline Near Ukrainian Border By