Traders across Wall Street expect the Fed to lower rates, ending the tightening cycle that began in March 2022.
That said, investors aren't sure how big the rate reduction will be.
To be sure, it closed more than 30 points below the closing all-time high of 5,634.58 set in July.
We tend to agree with that, but also think the setup for a 'false breakout' remains high," wrote Krinsky.
Elsewhere on Wall Street this morning , Barclays upgraded VF Corp to overweight from equal weight.
Persons:
Chris Murphy, Susquehanna, Jonathan Krinsky, It's, Adrienne Yih
Organizations:
Federal, Traders, Barclays, Corp