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Wall Street adds to week’s big gain; crypto falls again

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The hope for markets is that a softening in inflation could mean the Fed will hold the line at a lower, less painful level for markets than it would have otherwise.

Traders now are increasingly betting that the rate could top out around a range of 4.75% to 5% by early next year, according to CME Group. A week ago, they saw a higher ultimate rate as much more likely, with a sizable chunk expecting something like 5.25% to 5.50%.

The S&P 500 is heading for its third weekly gain in the last four, and its rise of 5.5% is on track to be its biggest since June.

 

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Stock Market Today: Dow Surges 000 Points as CPI Report Shows Inflation Eased to 7.7% in OctoberThe Dow climbed more than 1,000 points on signs of easing inflation and hopes the Fed would slow the pace of rate increases dissapointing to republicans? Didn't the Fed say they will hold interests high for a while till they are sure interest rates stay low? The current stock rally will probably add to their resolve.
Source: WSJ - 🏆 98. / 63 Read more »