Positive news on inflation and speculations that the Federal Reserve will postpone a rate hike after this week’s policy meeting have propelled the Dow Jones Industrial Average by 196 points (0.6%).
Tech shares have particularly benefited from easing inflation and rate expectations, with Oracle, Netflix, and Meta all experiencing significant gains.
The S&P 500 and Nasdaq Composite hitting 13-month high marks, while the Dow Jones Advanced. According to CME Group’s FedWatch tool, there is a 99% chance that interest rates will stay at the current target rate.
Investors are monitoring the Fed’s signals for an expected additional rate increase by the end of 2023.
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