Today's Business Headlines: 9/5/24
Wall Street ’s main indexes fell on Friday after a crucial jobs report did little to clear the uncertainty around the magnitude of the Federal Reserve ’sIn recent trading, the Dow Jones Industrial Average dropped 352 points, or 0.9%, to 40,409. The S&P 500 lost 1.5%, and the Nasdaq slipped 2.3%.Traders’ bets for a 25-basis point rate cut in September stood at 53%, according to the CME Group’s FedWatch Tool.
Federal Reserve Bank of New York President John Williams said a better balanced economy has opened the door to cutting rates, with the full course of action to be determined by how the economy performs.sparked recession fears nearly a month ago and had sent the tech-heavy Nasdaq down more than 10% into correction territory and led to a selloff in global markets.
September has been historically weak for US equities, with the S&P 500 down about 1.2% for the month on average since 1928.
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