S&P 500 (^GSPC)
| Previous close | 5,018.39 |
| Open | 5,049.32 |
| Volume |
| Day's range | 5,011.05 - 5,073.21 |
| 52-week range | 4,048.28 - 5,264.85 |
| Avg. volume | 4,037,661,311 |
- Yahoo Finance Video
Fed's messaging unleashed significant tailwinds: Apollo's Sløk
Federal Reserve officials are holding interest rates higher for yet another month as Fed Chair Jerome Powell is prioritizing easing inflation data over possible rate cuts. Apollo Global Management Chief Economist Torsten Sløk — who was one of the earliest on Wall Street to believe the Fed wasn't going to cut rates at all this year — joins Market Domination to discuss what the Fed's latest monetary policy is signaling about the rate environment. "I don't think this was their intention, I think that they just looked very innocently at the dual mandate that they had been given by Congress — inflation should be 2%, we should have full employment — and they said... maybe we don't need to have interest rates so high anymore," Sløk says about the Fed's messaging. "What they didn't recognize, and maybe only realized later, was that when you, after several years of having said interest rates are going up, up, up, you did not have many IPOs, you did not have much M&A activity. So as a result of that, that has now been unleashed and that is, as we speak, creating much more activity in capital markets, much more consumer spending... because we now have a significant tailwind because of that signal change." Sløk goes on to estimate the chances of a rate cut to occur this year and how these economic uncertainties are manifesting in equity markets (^DJI, ^IXIC, ^GSPC), even small-cap stocks in the Russell 2000 (^RUT). Disclosure: Apollo Global Management is the parent company of Yahoo and Yahoo Finance. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Luke Carberry Mogan.
- Yahoo Finance Video
Stocks jump, close higher coming off of Fed's rate hold
US stocks pop Thursday as market indices (^DJI, ^IXIC, ^GSPC) close the session higher, the Dow Jones Industrial Average rising by 323 points and the Nasdaq Composite up by 1.51%. Market Domination Overtime Anchor Julie Hyman reviews the day's market performance after the Federal Reserve announced it will be holding interest rates steady yesterday. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Luke Carberry Mogan.
- Yahoo Finance Video
Probability of 3 rate cuts this year still uncertain: Strategist
With the Federal Reserve keeping interest rates higher for longer, the debate over when the next rate cut will occur is keeping Wall Street on its toes. Many events on the horizon could affect the Fed as it analyzes economic data, but the upcoming Presidential election could be a big factor. Deutsche Bank Americas Chief Investment Officer Deepak Puri joins Catalysts to discuss the path for the Federal Reserve to cut rates multiple times and the factors that impact the Fed's decisions. "Our base case is that we still are going to see one to two rate cuts this year and another one early next year. And I think the rate cuts, it's really the timing that's been pushed back. Now, looking at probably June, July out, September most likely the first month where rate cuts would come into picture, and most likely, post election. You have two Fed meetings post elections, and those could be the live meetings for rate cuts and that's what market needs to factor now in." For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Nicholas Jacobino
