Wall Street rises on growing hopes for Fed rate cuts

May 6 - Wall Street's main stock indexes gained on Monday as expectations of interest rate cuts this year by the Federal Reserve grew stronger following a soft payrolls data last week.

"It's been this tug of war between what you're seeing play out in the rates market and the repricing of inflation and Fed policy versus what you're seeing on the earnings front," said Garrett Melson, portfolio strategist at Natixis Investment Managers Solutions.U.S. stock indexes appear to have stabilized after a rocky April, as a much better-than-expected first-quarter earnings season and hopes of U.S. monetary policy easing draw buyers back into the market.

Of the 397 firms in the S&P 500 that have reported earnings through Friday, 76.8% beat analysts' profit estimates, compared with the long-term average of 66.7%, as per LSEG data. Paramount Global , opens new tab added 4.2% after the media company ended its exclusive negotiations with Skydance Media without a deal, allowing the special committee to entertain other offers from rival bidders.

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