U.S. Stocks Open Higher with Investors Anticipating Federal Reserve's Interest-Rate Decision
Wednesday, 18 September 2024, 06:33
U.S. Stocks Trend Upward Amid Speculation on Fed's Interest-Rate Cut
U.S. stock indexes were edging higher on Wednesday morning as investors awaited the first Federal Reserve's interest-rate cut since 2020.
- The Dow Jones Industrial Average was rising less than 0.1%, leaving it nearly flat, at around 41,570 as of 9:30 a.m. Eastern Time, according to FactSet data.
- The S&P 500 was up 0.1%, trading at 5,641.
- The Nasdaq Composite was adding 0.2%, reaching around 17,657.
Wall Street remains divided over whether the central bank will announce a cut of 25 basis points or one of 50 basis points at 2 p.m. Eastern Time.
Traders in the federal-funds futures market on Wednesday morning indicated a 61% chance of a half-point cut, up from about 40% last week, with a 39% probability of a quarter-point reduction, according to the CME FedWatch Tool.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.