Stock market today: Wall Street hits records as a slowing economy boosts hopes for lower rates
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Wall Street's record-breaking rally continues as a slowing economy boosts hopes for lower interest rates. The S&P 500 rose 0.5% to set an all-time high for a second straight day. The Dow Jones Industrial Average slipped 23 points, while the Nasdaq composite added 0.9% to its record. Tesla rose 6.5% after reporting a milder drop in sales. The bond market saw Treasury yields slide following weaker-than-expected reports on the job market and U.S. services companies. The hope is that the economy softens enough to keep inflation in check without triggering a recession. The yield on the 10-year Treasury dropped to 4.35%. Traders are now betting on a nearly three-in-four chance that the Federal Reserve will cut its main interest rate as soon as September. In stock markets abroad, indexes rose across much of Europe and Asia.
#StockMarket #WallStreet #InterestRates #Economy
https://www.latimes.com/business/story/2024-07-03/stock-market-today-wall-street-hits-records-as-a-slowing-economy-boosts-hopes-for-lower-rates
Los Angeles Times /
npub1ka…ct50x
2024-07-03 22:04:51
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2024-07-03 22:04:51Event JSON
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"content": "Stock market today: Wall Street hits records as a slowing economy boosts hopes for lower rates\n==========\n\nWall Street's record-breaking rally continues as a slowing economy boosts hopes for lower interest rates. The S\u0026P 500 rose 0.5% to set an all-time high for a second straight day. The Dow Jones Industrial Average slipped 23 points, while the Nasdaq composite added 0.9% to its record. Tesla rose 6.5% after reporting a milder drop in sales. The bond market saw Treasury yields slide following weaker-than-expected reports on the job market and U.S. services companies. The hope is that the economy softens enough to keep inflation in check without triggering a recession. The yield on the 10-year Treasury dropped to 4.35%. Traders are now betting on a nearly three-in-four chance that the Federal Reserve will cut its main interest rate as soon as September. In stock markets abroad, indexes rose across much of Europe and Asia.\n\n#StockMarket #WallStreet #InterestRates #Economy\n\nhttps://www.latimes.com/business/story/2024-07-03/stock-market-today-wall-street-hits-records-as-a-slowing-economy-boosts-hopes-for-lower-rates",
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