Latest news with #FedWatch
Economic Times
4 hours ago
- Business
- Economic Times
S&P 500, Nasdaq hit record closing highs amid trade negotiations, rate cut bets
Volume on U.S. exchanges was 22.07 billion shares, compared with the 18.27 billion average for the full session over the last 20 trading days. Wall Street surged on Friday, propelling the S&P 500 and Nasdaq to record highs amid trade optimism and expectations of Federal Reserve rate cuts. Despite a brief setback caused by President Trump's termination of trade talks with Canada, all major indexes posted weekly gains. Economic data, including consumer spending and sentiment reports, further solidified expectations for monetary easing. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads NEW YORK: Wall Street extended its rally on Friday, sending S&P 500 and Nasdaq to all-time closing highs as trade deal hopes fueled investor risk appetite and economic data helped solidify expectations for rate cuts from the U.S. Federal pared gains after U.S. President Donald Trump terminated trade negotiations with Canada in response to its digital tax on technology so, all three major U.S. stock indexes posted weekly gains. Upon reaching its record closing high, the tech-heavy Nasdaq confirmed it entered a bull market when it touched its post "liberation day" trough on April blue-chip Dow remained 2.7% below its record closing high reached on December 4."This market's been pretty resilient," said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana. "Investors are riding momentum and looking for breakouts.""They don't want to get caught on the wrong side of this thing," Carlson added. "Many investors already have missed out. And now you have the S&P flirting with an all-time high."The Personal Consumption Expenditures report from the Commerce Department showed consumer income and spending unexpectedly contracted in May. And while tariffs have yet to affect price growth, inflation continues to hover above the Fed's 2% annual inflation target.A separate report from the University of Michigan confirmed consumer sentiment has improved this month, but remains well below December's post-election markets have priced in a 76% likelihood that the Fed will implement its first rate cut of the year in September, with a smaller, 19% probability of a rate cut coming as soon as July, according to CME's FedWatch and Beijing reached an agreement to expedite rare-earth shipments from China to the U.S., a White House official said, well ahead of the July 9 expiration of the 90-day postponement of U.S. President Donald Trump's "reciprocal" U.S. Treasury Secretary Scott Bessent said the administration's trade deals with 18 of the main U.S. trading partners could be done by the September 1 Labor Day Dow Jones Industrial Average rose 432.43 points, or 1.00%, to 43,819.27, the S&P 500 gained 32.05 points, or 0.52%, to 6,173.07 and the Nasdaq Composite gained 105.55 points, or 0.52%, to 20, the 11 major sectors of the S&P 500, consumer discretionary enjoyed the biggest percentage gain, while energy shares were the laggards. Chipmaker Micron's MU.O upbeat forecast revived investor confidence in artificial intelligence-related stocks, while Nvidia NVDA.O rose 1.8%, edging closer to $4 trillion market capitalization after reclaiming its position as the world's most valuable shares NKE.N jumped 15.2% after forecasting a smaller-than-expected drop in first-quarter revenue. Advancing issues outnumbered decliners by a 1.29-to-1 ratio on the were 347 new highs and 55 new lows on the NYSE. On the Nasdaq, 2,111 stocks rose and 2,342 fell as declining issues outnumbered advancers by a 1.11-to-1 S&P 500 posted 35 new 52-week highs and 6 new lows while the Nasdaq Composite recorded 101 new highs and 68 new on U.S. exchanges was 22.07 billion shares, compared with the 18.27 billion average for the full session over the last 20 trading days.
Time of India
5 hours ago
- Business
- Time of India
S&P 500, Nasdaq hit record closing highs amid trade negotiations, rate cut bets
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel NEW YORK: Wall Street extended its rally on Friday, sending S&P 500 and Nasdaq to all-time closing highs as trade deal hopes fueled investor risk appetite and economic data helped solidify expectations for rate cuts from the U.S. Federal pared gains after U.S. President Donald Trump terminated trade negotiations with Canada in response to its digital tax on technology so, all three major U.S. stock indexes posted weekly gains. Upon reaching its record closing high, the tech-heavy Nasdaq confirmed it entered a bull market when it touched its post "liberation day" trough on April blue-chip Dow remained 2.7% below its record closing high reached on December 4."This market's been pretty resilient," said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana. "Investors are riding momentum and looking for breakouts.""They don't want to get caught on the wrong side of this thing," Carlson added. "Many investors already have missed out. And now you have the S&P flirting with an all-time high."The Personal Consumption Expenditures report from the Commerce Department showed consumer income and spending unexpectedly contracted in May. And while tariffs have yet to affect price growth, inflation continues to hover above the Fed's 2% annual inflation target.A separate report from the University of Michigan confirmed consumer sentiment has improved this month, but remains well below December's post-election markets have priced in a 76% likelihood that the Fed will implement its first rate cut of the year in September, with a smaller, 19% probability of a rate cut coming as soon as July, according to CME's FedWatch and Beijing reached an agreement to expedite rare-earth shipments from China to the U.S., a White House official said, well ahead of the July 9 expiration of the 90-day postponement of U.S. President Donald Trump's "reciprocal" U.S. Treasury Secretary Scott Bessent said the administration's trade deals with 18 of the main U.S. trading partners could be done by the September 1 Labor Day Dow Jones Industrial Average rose 432.43 points, or 1.00%, to 43,819.27, the S&P 500 gained 32.05 points, or 0.52%, to 6,173.07 and the Nasdaq Composite gained 105.55 points, or 0.52%, to 20, the 11 major sectors of the S&P 500, consumer discretionary enjoyed the biggest percentage gain, while energy shares were the laggards. Chipmaker Micron's MU.O upbeat forecast revived investor confidence in artificial intelligence-related stocks, while Nvidia NVDA.O rose 1.8%, edging closer to $4 trillion market capitalization after reclaiming its position as the world's most valuable shares NKE.N jumped 15.2% after forecasting a smaller-than-expected drop in first-quarter revenue. Advancing issues outnumbered decliners by a 1.29-to-1 ratio on the were 347 new highs and 55 new lows on the NYSE. On the Nasdaq, 2,111 stocks rose and 2,342 fell as declining issues outnumbered advancers by a 1.11-to-1 S&P 500 posted 35 new 52-week highs and 6 new lows while the Nasdaq Composite recorded 101 new highs and 68 new on U.S. exchanges was 22.07 billion shares, compared with the 18.27 billion average for the full session over the last 20 trading days.
Business Recorder
7 hours ago
- Business
- Business Recorder
Wall Street indexes hit fresh peaks on trade, Fed cut optimism
NEW YORK: Wall Street's main indexes rose on Friday, pushing the S&P 500 and the Nasdaq to intraday record highs as investors pinned their hopes on deeper interest-rate cuts and the US striking deals with its biggest trading partners. The S&P 500 and the Nasdaq Composite both rose more than 0.5%, surpassing their previous peaks touched in February and December, respectively. The Nasdaq looked on course to confirm a bull market, having recovered more than 20% from a trough in April. 'I think the driver for that momentum clearly is the dissipation of concerns over the magnitude of tariffs. That was the biggest concern in the early April time frame and I think that headwind seems to be dissipating a bit,' said Art Hogan, chief market strategist at B Riley Wealth. US Treasury Secretary Scott Bessent said the Trump administration's trade deals with other countries could be done by Labor Day, citing the country's 18 main trading partners. Investors are focusing on the interest-rate trajectory after the Wall Street Journal reported that Trump toyed with the idea of announcing US Federal Reserve Chair Jerome Powell's replacement by September or October. Traders now price in a 20.7% chance of a rate cut in July, compared with 14.5% last week, according to CME Group's FedWatch tool. At 11:28 a.m. ET, the Dow Jones Industrial Average rose 403.09 points, or 0.93%, to 43,789.88, the S&P 500 gained 36.14 points, or 0.58%, to 6,177.16, and the Nasdaq Composite added 108.05 points, or 0.54%, to 20,275.96. Ten of the 11 major S&P 500 sub-sectors rose. Energy stocks were the only laggards, falling 0.5%. Shares of Nvidia, the world's most valuable company, rose 1.8% to touch a record high, while other tech-heavyweights including and Apple added 1.1% and 0.2%, respectively. The benchmark S&P 500 and the tech-heavy Nasdaq were on track for their best weekly performance in more than a month, while the blue-chip Dow was set for a weekly advance, if gains hold. UBS Global Wealth Management raised its year-end target for the S&P 500 to 6,200 from its prior forecast of 6,000, banking on softening trade uncertainty. Nike's shares jumped 15.8% after it forecast a smaller-than-expected drop in first-quarter revenue. Retailer Lululemon Athletica rose 1.6% after Nike's results, while Hoka-owner Deckers Outdoor added 2.7%. Advancing issues outnumbered decliners by a 2.01-to-1 ratio on the NYSE and by a 1.26-to-1 ratio on the Nasdaq. The S&P 500 posted 27 new 52-week highs and two new lows, while the Nasdaq Composite recorded 70 new highs and 34 new lows.
Al Etihad
13 hours ago
- Business
- Al Etihad
Wall Street indexes hit fresh peaks on trade, Fed cut optimism
27 June 2025 22:54 (REUTER) Wall Street's main indexes rose on Friday, pushing the S&P 500 and the Nasdaq to intraday record highs as investors pinned their hopes on deeper interest-rate cuts and the US striking deals with its biggest trading S&P 500 (.SPX) and the Nasdaq Composite (.IXIC) both rose more than 0.5%, surpassing their previous peaks touched in February and December, respectively. The Nasdaq looked on course to confirm a bull market, having recovered more than 20% from a trough in April."I think the driver for that momentum is the dissipation of concerns over the magnitude of tariffs. That was the biggest concern in the early April time frame and I think that headwind seems to be dissipating a bit," said Art Hogan, chief market strategist at B Riley to the upbeat sentiment, Washington reached an agreement with China on expediting rare-earth shipments to the United States, a White House official said, days ahead of the July 9 deadline for US President Donald Trump's "reciprocal" Treasury Secretary Scott Bessent said the Trump administration's trade deals with other countries could be done by Labor Day, citing the country's 18 main trading are focusing on the interest-rate trajectory after the Wall Street Journal reported that Trump toyed with the idea of announcing US Federal Reserve Chair Jerome Powell's replacement by September or on Friday showed US consumer spending fell unexpectedly in May as the boost from consumers preemptively buying goods such as motor vehicles ahead of tariffs faded, while monthly inflation rose moderately, supporting bets for rate now price in a 20.7% chance of a rate cut in July, compared with 14.5% last week, according to CME Group's FedWatch 11:28 a.m. ET, the Dow Jones Industrial Average (.DJI) rose 403.09 points, or 0.93%, to 43,789.88, the S&P 500 (.SPX) gained 36.14 points, or 0.58%, to 6,177.16, and the Nasdaq Composite (.IXIC) added 108.05 points, or 0.54%, to 20, of the 11 major S&P 500 sub-sectors rose. Energy stocks were the only laggards, falling 0.5%.Shares of Nvidia (NVDA.O), the world's most valuable company, rose 1.8% to touch a record high, while other tech heavyweights including (AMZN.O) and Apple (AAPL.O) added 1.1% and 0.2%, benchmark S&P 500 (.SPX) and the tech-heavy Nasdaq (.IXIC) were on track for their best weekly performance in more than a month, while the blue-chip Dow (.DJI) was set for a weekly advance if gains Global Wealth Management raised its year-end target for the S&P 500 to 6,200 from its prior forecast of 6,000, banking on softening trade (NKE.N) shares jumped 15.8% after it forecast a smaller-than-expected drop in first-quarter Lululemon Athletica (LULU.O) rose 1.6% after Nike's results, while Hoka-owner Deckers Outdoor (DECK.N) added 2.7%.Advancing issues outnumbered decliners by a 2.01-to-1 ratio on the NYSE and by a 1.26-to-1 ratio on the Nasdaq. The S&P 500 posted 27 new 52-week highs and two new lows, while the Nasdaq Composite recorded 70 new highs and 34 new lows.
The Advertiser
15 hours ago
- Business
- The Advertiser
Wall Street hits new peaks on trade, rate cut hopes
Wall Street's main indexes have risen, pushing the S&P 500 and the Nasdaq to intraday record highs as investors pinned their hopes on deeper interest-rate cuts and the US striking deals with its biggest trading partners. The S&P 500 and the Nasdaq Composite both rose more than 0.5 per cent, surpassing their previous peaks touched in February and December respectively. The Nasdaq looked on course to confirm a bull market, having recovered more than 20 per cent from a trough in April. "I think the driver for that momentum clearly is the dissipation of concerns over the magnitude of tariffs. That was the biggest concern in the early April time frame and I think that headwind seems to be dissipating a bit," said Art Hogan, chief market strategist at B Riley Wealth. Adding to the upbeat sentiment, the United States reached an agreement with China on expediting rare-earth shipments to the United States, a White House official said, days ahead of the July 9 deadline for US President Donald Trump's "reciprocal" tariffs. US Treasury Secretary Scott Bessent said the administration's trade deals with other countries could be done by Labor Day, citing the country's 18 main trading partners. Investors are focusing on the interest-rate trajectory after the Wall Street Journal reported that Trump toyed with the idea of announcing US Federal Reserve chair Jerome Powell's replacement by September or October. Data on Friday showed US consumer spending fell unexpectedly in May as the boost from consumers pre-emptively buying goods such as motor vehicles ahead of tariffs faded while monthly inflation rose moderately, supporting bets for rate cuts. Traders are pricing in a 20.7 per cent chance of a rate cut in July, compared with 14.5 per cent last week, according to CME Group's FedWatch tool. In early trading on Friday, the Dow Jones Industrial Average rose 403.09 points, or 0.93 per cent, to 43,789.88, the S&P 500 gained 36.14 points, or 0.58 per cent, to 6,177.16, and the Nasdaq Composite added 108.05 points, or 0.54 per cent, to 20,275.96. Ten of the 11 major S&P 500 sub-sectors rose. Energy stocks were the only laggards, falling 0.5 per cent. Shares of Nvidia, the world's most valuable company, rose 1.8 per cent to touch a record high while other tech-heavyweights including and Apple added 1.1 per cent and 0.2 per cent respectively. The benchmark S&P 500 and the tech-heavy Nasdaq were on track for their best weekly performance in more than a month while the blue-chip Dow was set for a weekly advance if gains hold. UBS Global Wealth Management raised its year-end target for the S&P 500 to 6,200 from its prior forecast of 6,000, banking on softening trade uncertainty. Nike's shares jumped 15.8 per cent after it forecast a smaller-than-expected drop in first-quarter revenue. Retailer Lululemon Athletica rose 1.6 per cent after Nike's results while Hoka-owner Deckers Outdoor added 2.7 per cent. Advancing issues outnumbered decliners by a 2.01-to-1 ratio on the NYSE and by a 1.26-to-1 ratio on the Nasdaq. The S&P 500 posted 27 new 52-week highs and two new lows while the Nasdaq Composite recorded 70 new highs and 34 new lows. Wall Street's main indexes have risen, pushing the S&P 500 and the Nasdaq to intraday record highs as investors pinned their hopes on deeper interest-rate cuts and the US striking deals with its biggest trading partners. The S&P 500 and the Nasdaq Composite both rose more than 0.5 per cent, surpassing their previous peaks touched in February and December respectively. The Nasdaq looked on course to confirm a bull market, having recovered more than 20 per cent from a trough in April. "I think the driver for that momentum clearly is the dissipation of concerns over the magnitude of tariffs. That was the biggest concern in the early April time frame and I think that headwind seems to be dissipating a bit," said Art Hogan, chief market strategist at B Riley Wealth. Adding to the upbeat sentiment, the United States reached an agreement with China on expediting rare-earth shipments to the United States, a White House official said, days ahead of the July 9 deadline for US President Donald Trump's "reciprocal" tariffs. US Treasury Secretary Scott Bessent said the administration's trade deals with other countries could be done by Labor Day, citing the country's 18 main trading partners. Investors are focusing on the interest-rate trajectory after the Wall Street Journal reported that Trump toyed with the idea of announcing US Federal Reserve chair Jerome Powell's replacement by September or October. Data on Friday showed US consumer spending fell unexpectedly in May as the boost from consumers pre-emptively buying goods such as motor vehicles ahead of tariffs faded while monthly inflation rose moderately, supporting bets for rate cuts. Traders are pricing in a 20.7 per cent chance of a rate cut in July, compared with 14.5 per cent last week, according to CME Group's FedWatch tool. In early trading on Friday, the Dow Jones Industrial Average rose 403.09 points, or 0.93 per cent, to 43,789.88, the S&P 500 gained 36.14 points, or 0.58 per cent, to 6,177.16, and the Nasdaq Composite added 108.05 points, or 0.54 per cent, to 20,275.96. Ten of the 11 major S&P 500 sub-sectors rose. Energy stocks were the only laggards, falling 0.5 per cent. Shares of Nvidia, the world's most valuable company, rose 1.8 per cent to touch a record high while other tech-heavyweights including and Apple added 1.1 per cent and 0.2 per cent respectively. The benchmark S&P 500 and the tech-heavy Nasdaq were on track for their best weekly performance in more than a month while the blue-chip Dow was set for a weekly advance if gains hold. UBS Global Wealth Management raised its year-end target for the S&P 500 to 6,200 from its prior forecast of 6,000, banking on softening trade uncertainty. Nike's shares jumped 15.8 per cent after it forecast a smaller-than-expected drop in first-quarter revenue. Retailer Lululemon Athletica rose 1.6 per cent after Nike's results while Hoka-owner Deckers Outdoor added 2.7 per cent. Advancing issues outnumbered decliners by a 2.01-to-1 ratio on the NYSE and by a 1.26-to-1 ratio on the Nasdaq. The S&P 500 posted 27 new 52-week highs and two new lows while the Nasdaq Composite recorded 70 new highs and 34 new lows. Wall Street's main indexes have risen, pushing the S&P 500 and the Nasdaq to intraday record highs as investors pinned their hopes on deeper interest-rate cuts and the US striking deals with its biggest trading partners. The S&P 500 and the Nasdaq Composite both rose more than 0.5 per cent, surpassing their previous peaks touched in February and December respectively. The Nasdaq looked on course to confirm a bull market, having recovered more than 20 per cent from a trough in April. "I think the driver for that momentum clearly is the dissipation of concerns over the magnitude of tariffs. That was the biggest concern in the early April time frame and I think that headwind seems to be dissipating a bit," said Art Hogan, chief market strategist at B Riley Wealth. Adding to the upbeat sentiment, the United States reached an agreement with China on expediting rare-earth shipments to the United States, a White House official said, days ahead of the July 9 deadline for US President Donald Trump's "reciprocal" tariffs. US Treasury Secretary Scott Bessent said the administration's trade deals with other countries could be done by Labor Day, citing the country's 18 main trading partners. Investors are focusing on the interest-rate trajectory after the Wall Street Journal reported that Trump toyed with the idea of announcing US Federal Reserve chair Jerome Powell's replacement by September or October. Data on Friday showed US consumer spending fell unexpectedly in May as the boost from consumers pre-emptively buying goods such as motor vehicles ahead of tariffs faded while monthly inflation rose moderately, supporting bets for rate cuts. Traders are pricing in a 20.7 per cent chance of a rate cut in July, compared with 14.5 per cent last week, according to CME Group's FedWatch tool. In early trading on Friday, the Dow Jones Industrial Average rose 403.09 points, or 0.93 per cent, to 43,789.88, the S&P 500 gained 36.14 points, or 0.58 per cent, to 6,177.16, and the Nasdaq Composite added 108.05 points, or 0.54 per cent, to 20,275.96. Ten of the 11 major S&P 500 sub-sectors rose. Energy stocks were the only laggards, falling 0.5 per cent. Shares of Nvidia, the world's most valuable company, rose 1.8 per cent to touch a record high while other tech-heavyweights including and Apple added 1.1 per cent and 0.2 per cent respectively. The benchmark S&P 500 and the tech-heavy Nasdaq were on track for their best weekly performance in more than a month while the blue-chip Dow was set for a weekly advance if gains hold. UBS Global Wealth Management raised its year-end target for the S&P 500 to 6,200 from its prior forecast of 6,000, banking on softening trade uncertainty. Nike's shares jumped 15.8 per cent after it forecast a smaller-than-expected drop in first-quarter revenue. Retailer Lululemon Athletica rose 1.6 per cent after Nike's results while Hoka-owner Deckers Outdoor added 2.7 per cent. Advancing issues outnumbered decliners by a 2.01-to-1 ratio on the NYSE and by a 1.26-to-1 ratio on the Nasdaq. The S&P 500 posted 27 new 52-week highs and two new lows while the Nasdaq Composite recorded 70 new highs and 34 new lows. Wall Street's main indexes have risen, pushing the S&P 500 and the Nasdaq to intraday record highs as investors pinned their hopes on deeper interest-rate cuts and the US striking deals with its biggest trading partners. The S&P 500 and the Nasdaq Composite both rose more than 0.5 per cent, surpassing their previous peaks touched in February and December respectively. The Nasdaq looked on course to confirm a bull market, having recovered more than 20 per cent from a trough in April. "I think the driver for that momentum clearly is the dissipation of concerns over the magnitude of tariffs. That was the biggest concern in the early April time frame and I think that headwind seems to be dissipating a bit," said Art Hogan, chief market strategist at B Riley Wealth. Adding to the upbeat sentiment, the United States reached an agreement with China on expediting rare-earth shipments to the United States, a White House official said, days ahead of the July 9 deadline for US President Donald Trump's "reciprocal" tariffs. US Treasury Secretary Scott Bessent said the administration's trade deals with other countries could be done by Labor Day, citing the country's 18 main trading partners. Investors are focusing on the interest-rate trajectory after the Wall Street Journal reported that Trump toyed with the idea of announcing US Federal Reserve chair Jerome Powell's replacement by September or October. Data on Friday showed US consumer spending fell unexpectedly in May as the boost from consumers pre-emptively buying goods such as motor vehicles ahead of tariffs faded while monthly inflation rose moderately, supporting bets for rate cuts. Traders are pricing in a 20.7 per cent chance of a rate cut in July, compared with 14.5 per cent last week, according to CME Group's FedWatch tool. In early trading on Friday, the Dow Jones Industrial Average rose 403.09 points, or 0.93 per cent, to 43,789.88, the S&P 500 gained 36.14 points, or 0.58 per cent, to 6,177.16, and the Nasdaq Composite added 108.05 points, or 0.54 per cent, to 20,275.96. Ten of the 11 major S&P 500 sub-sectors rose. Energy stocks were the only laggards, falling 0.5 per cent. Shares of Nvidia, the world's most valuable company, rose 1.8 per cent to touch a record high while other tech-heavyweights including and Apple added 1.1 per cent and 0.2 per cent respectively. The benchmark S&P 500 and the tech-heavy Nasdaq were on track for their best weekly performance in more than a month while the blue-chip Dow was set for a weekly advance if gains hold. UBS Global Wealth Management raised its year-end target for the S&P 500 to 6,200 from its prior forecast of 6,000, banking on softening trade uncertainty. Nike's shares jumped 15.8 per cent after it forecast a smaller-than-expected drop in first-quarter revenue. Retailer Lululemon Athletica rose 1.6 per cent after Nike's results while Hoka-owner Deckers Outdoor added 2.7 per cent. Advancing issues outnumbered decliners by a 2.01-to-1 ratio on the NYSE and by a 1.26-to-1 ratio on the Nasdaq. The S&P 500 posted 27 new 52-week highs and two new lows while the Nasdaq Composite recorded 70 new highs and 34 new lows.
