US Stocks Surge on Fed Rate Cut Hopes

US stocks surged on Tuesday, marking their sixth win in seven sessions, as tech shares soared on Fed rate cut expectations. Despite earlier setbacks due to manufacturing data, rising yields, and Bitcoins dip, the market rebounded with positive consumer spending signals and easing bond yields. The S&P 500, Nasdaq, and Dow Jones all gained, with Boeing boosting the Dow. Fed rate cut expectations now stand at 89.2%, fueled by recent official comments, and the PCE Index release could solidify these expectations for next weeks policy call. The Daily News Now! - Every city. Every story. AI Powered. Hosted on Acast. See acast.com/privacy for more information.