Today's Business Headlines: 8/23/24
Heartbroken grandma opens up after daughter allegedly kills grandson in drugged-out, wrong-way LI crash
In recent trading, the Dow Jones Industrial Average rose 460 points, or 1.1%, to 41,173. The S&P 500 gained 1%, and the Nasdaq climbed 1.3%.The S&P 500 extended early gains and was less than 1% away from surpassing a record high clinched in July, after falling as much as 9.7% from that level earlier this month.
“The market has been predicting the first rate cut to start going back to March of this year and investors have been disappointed multiple times,” said Sam Stovall, chief investment strategist at CFRA Research in New York.The Fed is scheduled to meet on Sept. 17 and 18, with traders pricing in a 71.5% chance that the central bank will cut borrowing costs by 25 basis points.
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