Wall Street ends up amid record low volatility ahead of eventful week

📆 6/9/2023 4:25 AM
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U.S. stocks closed higher on Thursday regaining some of their momentum thanks to a rebound by technology stocks, while volatility dropped to record lows ahead of an eventful economic and policy calendar next week. | Reuters

Traders have priced in a 73-percent chance of the U.S. central bank holding interest rates at the current 5 percent-5.25 percent range during its monetary policy meeting on June 13-14, according to CMEGroup’s Fedwatch tool. However, they see a 50-percent chance of a rate hike in July.

Meanwhile, a rebound by technology and megacap stocks helped major indexes regain their footing amid thin volumes. Among the 11 major S&P sectors, consumer discretionary led the charge, while real estate and energy indexes slipped, with the latter being hit by a drop in oil prices.

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