Stock Market Today: Markets React to Fed Minutes and Interest Rate Outlook
Wednesday, 9 October 2024, 13:15
Daily Market Wrap: US Stocks Hit New Highs
On Wednesday, US stocks rallied as traders digested the latest Fed minutes and prepared for vital inflation data. The Dow Jones Industrial Average surged over 400 points, marking a record close, while the S&P 500 and Nasdaq Composite also climbed, each reaching their own all-time highs.
Impact of Fed Interest Rates
- The bond yields saw a slight increase, with the 10-year Treasury yield up three basis points.
- All eyes are on Thursday's consumer price index report expected to provide insights into inflation trends.
Market Volatility Ahead
With economists predicting consumer prices to rise by 0.1% month-over-month and an annual increase of 2.3%, Wall Street braces for potential volatility based on its significance for the Fed's next rate decision.
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.