Market Update
Wall Street experienced a relief rally due to cooler-than-estimated inflation, reinforcing trader conviction that the Federal Reserve will cut rates next week.
The S&P 500 hit record highs, with equities extending their October advance, driven by bets that policy easing will continue to fuel corporate earnings.
- Cooler-than-estimated inflation reinforced expectations of a rate cut.
- The S&P 500 reached all-time highs.
- Money markets priced in a high likelihood of two rate reductions before the year ends.
Wall Street saw a relief rally as cooler-than-estimated inflation reinforced trader conviction the Federal Reserve will cut rates next week.
Author's summary: S&P 500 hits record high amid expected rate cut.
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