The Fed's biggest problem isn't inflation anymore
Inflation may no longer dictate the pace of Federal Reserve rate cuts
Inflation may no longer dictate the pace of Federal Reserve rate cuts
The yield on the 10-year Treasury note fell below 4% for the first time since February after the ISM manufacturing index came in weaker than expected. Bond prices have rallied, meaning yield fell, as traders bet that the Federal Reserve will soon begin cutting interest rates. Also weighing on yields was an unexpected increase in U.S. weekly jobless claims to 249,000 from 235,000, which supports bets on an interest rate cut by the Fed in September.
Wall Street closed sharply higher on Wednesday, led by a tech rally.
Stocks kicked-off August trading with one of the biggest single-day declines of the year.
Markets were looking for a clear signal on the Fed's next rate move. Here's what they got.
Treasury yields fell Wednesday as markets waited to see how clearly the Federal Reserve, which today concludes its July policy meeting, would signal its next move on interest rates.
Technology stocks were roaring back, but the rest of the market was rising, too, ahead of today's Federal Reserve interest-rate decision. The Dow shook off some early stumbles and was up 240 points, or 0.6% shortly before noon ET. The Nasdaq Composite was the real star with a gain of 2.6%.
Markets will be paying close attention Wednesday to how much confidence Federal Reserve Chair Jerome Powell signals the central bank has to potentially begin cutting interest rates as soon as September.
Private employers in the U.S. added fewer roles than anticipated in July, with jobs growth edging down as pay gains continued to slow, according to a report from...
-- Australian consumer price index inflation grew as expected in the second quarter, while softer-than-expected core inflation drove up bets that the Reserve Bank will...