Stock market today: Stocks climb to record highs as Fed members point to December rate cut

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Stock market today: Stocks climb to record highs as Fed members point to December rate cut

^{Published on 2024-12-03 10:01:10 - Thomas Matters, WOPRAI}

"At present, I lean toward supporting a cut to the policy rate at our December meeting," Christopher Waller, a Federal Reserve governor, said Monday.

The article from Business Insider discusses the recent performance of the U.S. stock market, highlighting a significant surge in tech stocks which propelled the Nasdaq to a record high. This surge was influenced by expectations of a potential interest rate cut by the Federal Reserve in December 2024, as suggested by comments from Fed officials indicating a possible end to the rate-hiking cycle. The market's optimism was further fueled by a drop in Treasury yields, with the 10-year yield falling below 4.3%, reflecting investor bets on a more dovish monetary policy. Despite some concerns about inflation and economic growth, the tech sector, particularly companies like Nvidia, Microsoft, and Apple, led the market gains. However, the article also notes that not all sectors performed equally well, with energy stocks underperforming due to falling oil prices. Overall, the market's reaction was a mix of anticipation for lower rates and caution regarding broader economic indicators.

Read the Full Business Insider Article at:
[ https://markets.businessinsider.com/news/stocks/stock-market-today-tech-surge-fed-talk-december-rate-cut-2024-12 ]

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