BofA bets on a potential Fed rate hike
After hotter-than-expected jobs report, Fed funds futures show higher chance of Fed pausing rate cuts next few months
Friday’s hotter than expected jobs report spurred traders in the federal-funds futures markets to price in a higher probability that the Federal Reserve will maintain its benchmark interest rate at the current level over the next few months.
Banks told the Fed ahead of the December policy meeting that they saw this process ending in June of this year.
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The S&P 500 rose 0.2% in afternoon trading following its 1.1% slump the day before. The Dow Jones Industrial Average was up 87 points.
The S&P 500 and the Dow Jones Industrial Average were down Wednesday morning while the Nasdaq composite was slightly up.
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Stock indexes closed mostly lower on Wall Street on the final day of another record-setting year. The S&P 500 slipped 0.4% ...
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