S&P 500, Nasdaq edge up after payrolls revisions; Fed minutes in focus
and the Nasdaq inched up amid volatile trading on Wednesday, as investors assessed a downward revision in U.S. payrolls data and awaited the release of minutes from the Federal Reserve's latest policy meeting.
The focus is now on the release of minutes from the Fed's July policy meeting, expected at 2:00 p.m. ET, at which Chair Jerome Powell hinted at a possible interest rate reduction in September. Financial markets are currently pricing in a near 68% likelihood of a 25 basis-points interest rate cut by the Fed in September, with a 32.5% chance of a super-sized 50 bps cut, according to CME's FedWatch tool.rose 96.43 points, or 0.24%, to 40,931.40, the S&P 500 gained 28.52 points, or 0.51%, to 5,625.
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