Wall St ends slightly higher after Fed policymakers back rate cuts
By Echo Wang
Mon September 23, 2024 6:35 PM
It was quite the choppy day again as all the indexes swung wildly back and forth, the Dow covering a 180 point range between red and black, but then seemed to stabilize after around 12:30 to rise again and all three closing modestly in the black. This was yet another case of the tug of war between the ½ point vs ¼ point factions as bets once again began to sway whether November would bring another ½ point cut, the odds today coming in about 50/50. There is also wait-and-see whether last week’s cut produces the desired trend and bolsters the case for a soft landing. The next big news comes Friday with the PCE data which is the Fed’s preferred inflation gauge. Per the CBOE, volume was 10.8 billion, below the 11.5 recent average.
DJ: 42,063.36 +38.17 NAS: 17,948.32 -65.66 S&P: 5,702.55 -11.09 9/20
DJ: 42,124.65 +61.29 NAS: 17,974.27 +25.95 S&P: 5,718.57 +16.02 9/23
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