Wall Street is coming off a positive week for the major averages, with the S&P 500 having touched a record intraday high on Friday.
U.S. stock futures were little changed Sunday night after a winning week, as traders looked ahead to the Federal Reserve's interest rate decision and May inflation data.for the major averages, with the S&P 500 having touched a record intraday high on Friday. The broad market index advanced 1.32%. Meanwhile, the 30-stock Dow registered a 0.29% gain, while the Nasdaq Composite climbed 2.38%.
Investors will parse through the Fed's updated projections on the timing and frequency of rate cuts. Markets are now pricing in just one rate cut this year, coming in November,"Implications for FOMC policy are mixed in our view," wrote Macquarie's David Doyle, who anticipates in his base case that rate cuts will commence in 2025."On the dovish side of the ledger is that the rise in unemployment has become more meaningful. ...
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