US Stocks Jump as Waller Cuts September Hike Odds to 50-50
Updated
Updated · Yahoo Finance · Sep 3
US Stocks Jump as Waller Cuts September Hike Odds to 50-50
3 articles · Updated · Yahoo Finance · Sep 3
Summary
Dow rose 1.3%, the S&P 500 1%, and the Nasdaq 1.4% on Thursday, giving the Dow and S&P their best day since Aug. 4.
Waller's comments on improving inflation pressures pushed traders to slash the odds of a September Fed hike to a tossup from 63% a day earlier, while the 10-year Treasury yield eased to 4.74%.
Nvidia added 1% after announcing a roughly $13 billion acquisition of Hugging Face, while Broadcom slipped despite an earnings beat.
Oil still held above $95 a barrel after Trump's reported attack on Iran, but investor focus also shifted to Friday's jobs report after weekly jobless claims rose to 206,000 and August layoff announcements slowed.