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— - 2 1750,000 - 1 Nvidia's - 1 Mark Hackett - 1 Nationwide's - 1
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☆ Stock market today: Indexes rise as weak private payroll data boosts optimism for rate cuts
  + stars: | 2024-06-05 | by ( Jennifer Sor | ) www.businessinsider.com   time to read: +2 min
Stocks rose on Wednesday as investors took in weaker jobs data. Investors are solidly betting on at two rate cuts in 2024, according to the CME FedWatch tool. AdvertisementUS stocks ticked higher on Wednesday as traders took in soft jobs data and revved up their hopes for Fed rate cuts later this year. Meanwhile, annual wage growth remained level at 5% — both promising signs that the job market is coolingWeaker hiring trends are good news for the outlook for rate cuts. Investors are largely expecting the Fed to hold interest rates steady at its next policy meeting, but are still feeling bullish on rate cuts by the end of the year.
Persons: —, 1750,000 Organizations: Service, Treasury, ADP, Bank of America, Investors
☆ Stock market today: S&P 500 closes at record high as rate cut hopes rise and Nvidia surges
  + stars: | 2024-06-05 | by ( Jennifer Sor | ) www.businessinsider.com   time to read: +2 min
US stocks jumped on Monday as traders took in an improved outlook for Fed rate cuts. Investors see two rate cuts in 2024, per the CME FedWatch tool. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Expectations for rate cuts have been bolstered by a cooling labor market, which gives the Federal Reserve room to losen monetary policy. "Investors are viewing slow economic data as 'goldilocks,' with growing hope for Fed rate cuts," Mark Hackett, Nationwide's chief of investment research said in a statement on Wednesday.
Persons: —, Nvidia's, Mark Hackett, Nationwide's Organizations: Service, Nasdaq, Reserve, Apple, Microsoft, Bureau of Labor Statistics
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