AI Stocks Boost Market, Rate Cut Hopes

U.S. stocks, particularly tech, surged at the start of the week, driven by the Magnificent Seven AI stocks. Despite signs of a weaker job market and inflation, investors are hopeful for a Federal Reserve interest rate cut in December, with an 85% chance now priced in. As the third-quarter earnings season concludes, 83% of S&P 500 companies have beaten expectations. The market remains optimistic, with some predicting the S&P 500 could reach 8000 by the end of next year. The Daily News Now! - Every city. Every story. AI Powered. Hosted on Acast. See acast.com/privacy for more information.