{"id":2093879,"date":"2023-11-08T11:53:02","date_gmt":"2023-11-08T16:53:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wall-st-edges-higher-as-investors-digest-cbank-comments\/"},"modified":"2023-11-08T11:57:06","modified_gmt":"2023-11-08T16:57:06","slug":"wall-st-edges-higher-as-investors-digest-cbank-comments","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wall-st-edges-higher-as-investors-digest-cbank-comments\/","title":{"rendered":"Wall St edges higher as investors digest cbank comments"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwall-st-edges-higher-as-investors-digest-cbank-comments%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2093879&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><html><body><\/p>\n<div class=\"entry-content\">\n<p><span class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__small__1kGq2\" data-testid=\"Text\">By <\/span>Amruta Khandekar<span class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__small__1kGq2\" data-testid=\"Text\"> and <\/span>Shristi \u200dAchar A<\/p>\n<p>November 8, 2023 \u2013 3:25 PM UTC<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-3\" style=\"min-width: 320px; min-height: 50px; text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-3'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<blockquote><p>(Reuters) \u2013 Wall Street\u2019s main indexes inched higher on Wednesday as investors parsed earnings reports\u2064 and comments from Federal Reserve officials for clues on \u2064how long the U.S. central bank will keep interest\u2062 rates high and eventually \u200dstart\u2064 cutting it.<\/p><\/blockquote>\n<blockquote><p>Treasury\u2063 yields have retreated sharply from their highs amid expectations that the \u200dFed\u200b has\u2062 reached the end of its rate-hike \u2063campaign,\u200b helping the <strong>S&#038;P 500<\/strong> and the <strong>Nasdaq<\/strong> notch their longest streak of gains \u200din two years on Tuesday.<\/p><\/blockquote>\n<blockquote><p>Markets are now \u200cpricing in rate \u200bcuts as soon \u200cas in \u2063May, according \u2062to the CME \u200cGroup\u2019s FedWatch\u2062 tool, with \u200codds of a cut of at least 25 basis points having risen to nearly 49%, compared\u2062 with about 41% a week earlier.<\/p><\/blockquote>\n<blockquote><p>\u201cThere is an inherent optimism in capital markets because most investors are anticipating that the Fed will probably not raise interest rates anymore through the end of the year,\u201d said Peter Andersen, founder\u200b of Andersen Capital\u200d Management in Boston.<\/p><\/blockquote>\n<blockquote><p>\u201c(This) can set the stage for a very strong rally\u2064 as\u2062 we finish up \u200cthe fourth quarter.\u201d<\/p><\/blockquote>\n<blockquote><p>Still, cautious comments from several central bank officials over the past few days have \u2064kept \u2063investors\u200d on\u200b edge, with\u2062 Fed Governor\u200b Michelle Bowman \u2063flagging the possibility of further rate hikes given the strength of \u2063the U.S. economy.<\/p><\/blockquote>\n<blockquote><p>Meanwhile, Fed \u200cChair Jerome Powell did not comment on monetary policy in opening\u200b remarks to\u2063 the U.S central \u200bbank\u2064 statistics conference. \u2063The Fed\u200b chair is \u2063scheduled to speak\u2062 at another conference \u200don Thursday.<\/p><\/blockquote>\n<blockquote><p>The benchmark U.S. 10-year Treasury yield edged lower to 4.5522%, coming\u2062 further off the\u200d 5% level breached in October.<\/p><\/blockquote>\n<blockquote><p>Analysts have mixed \u2063views about the outlook for equities towards the \u200bend of the year, with some cautiously optimistic about \u200bthe\u200b prospects\u2062 of a rally, while others have highlighted the likelihood of economic growth concerns\u2064 and tepid earnings forecasts keeping sentiment\u200c subdued.<\/p><\/blockquote>\n<blockquote><p>On the earnings front, eBay shed\u200b 5.5% as the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wall-st-edges-higher-as-investors-digest-cbank-comments\/\" title=\"Wall St edges higher as investors digest cbank comments\">e-commerce platform forecast fourth-quarter revenue<\/a> and profit below Wall Street estimates.<\/p><\/blockquote>\n<blockquote><p>Under Armour \u2062(UAA.N) added 4.8% on raising its\u2064 annual gross\u2062 margin forecast.<\/p><\/blockquote>\n<blockquote><p>Warner \u2063Bros Discovery(WBD.O) slumped 14.4% after the \u200bcompany said Hollywood strikes and a weak \u2063advertising market \u200ccould hurt next year\u2019s earnings.<\/p><\/blockquote>\n<blockquote><p>Seven of\u200b the 11 major S&#038;P 500 \u2063sectors\u200b rose, with information technology (.SPLRCT) leading gains, up 0.6%.<\/p><\/blockquote>\n<blockquote><p>At 9:59 a.m. ET, the Dow Jones Industrial Average (.DJI) was up 76.60 points,\u200b or 0.22%, at 34,229.20, the S&#038;P\u2062 500 (.SPX) was up 9.54 points, or \u20630.22%, at 4,387.92, and \u2062the Nasdaq Composite (.IXIC) was up 22.89 points, or 0.17%, at 13,662.74.<\/p><\/blockquote>\n<blockquote><p>Among other movers, Take-Two\u2064 Interactive Software (TTWO.O) rose\u200d 7.2% on\u200c a\u2064 report stating its Rockstar\u200b Games unit plans\u2064 to \u200dannounce the next \u201cGrand Theft Auto\u201d game\u200c as early as this week.<\/p><\/blockquote>\n<blockquote><p>Electric vehicle maker \u2064Lucid Group \u2062(LCID.O) fell 6.2% after trimming its production forecast.<\/p><\/blockquote>\n<blockquote><p>Advancing issues outnumbered decliners by a 1.31-to-1 ratio on the NYSE and by a \u20641.08-to-1 ratio on the Nasdaq.<\/p><\/blockquote>\n<blockquote><p>The \u200bS&#038;P index \u200drecorded 14 new 52-week highs and four new\u2063 lows, while the Nasdaq recorded 31 new highs and 75 new lows.<\/p><\/blockquote>\n<blockquote><p>Reporting by \u200cAmruta Khandekar \u2064and Shristi Achar A; Editing by Anil D\u2019Silva and Maju Samuel<\/p><\/blockquote>\n<\/p>\n<div id=\"rc-widget-10bad2\" data-rc-widget data-widget-host=\"habitat\" data-endpoint=\"\/\/trends.revcontent.com\" data-widget-id=\"278641\"><\/div>\n<p class=\"dpsp-share-text\" style=\"margin-bottom:10px\"> \t\t \t\tShare this post!\t<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>The House passes a resolution to censure Rep. Tlaib while the Deep State and Academia \u201csecured\u201d the 2020 Election.<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>After a release of\u2063 a\u2064 new report from the House Weaponization Of Government Subcommittee, two GOP panel members speak on the recent findings\u200d of\u200d how the Federal Government partnered with universities to censor conservative \u200cspeech.<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>Virginia members \u2063of congress tell One America \u200dNews why they remain \u200doptimistic about GOP victories in\u2062 today\u2019s Virginia\u200b State elections for the Senate and House of Delegates.<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>Police hold a press conference over the recent death of a Jewish\u2064 man who \u2062was killed while protesting in support of Israel.<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>Amazon to invest millions in Olympus LLM model to rival OpenAI and Alphabet.<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>Meta said in a blog\u200b post it would require advertisers to disclose if their altered or created ads.<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>China\u2019s ByteDance,\u200b the parent \u200bof short video\u200c app TikTok, is offering to buy back shares\u200b from\u200d its employees outside the United States.<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>US watchdog proposes rules for Big Tech payments and digital wallets, \u2063aiming for consumer safeguards.<\/h2>\n<\/p><\/div>\n<p> rnrn  <\/p>\n<h2> What is the current market expectation for interest rate cuts and how is this affecting investor sentiment?<\/h2>\n<p><span>  Wall Street&#8217;s main indexes experienced slight gains on Wednesday as investors analyzed earnings reports and statements from Federal \u2064Reserve \u200bofficials. Investors are watching for indications of how \u200dlong the Federal Reserve will <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mortgage-rates-hit-highest-level-since-2000-with-more-climbing-still-expected\/\" title=\"Mortgage rates reach 20-year high, further increase anticipated.\">maintain high interest rates<\/a> before starting to \u2064cut them. The recent retreat in \u200cTreasury yields has contributed to\u200b the S&#038;P 500 \u200cand\u200c Nasdaq recording their \u200blongest streak of gains in two years.<\/p>\n<p>Market expectations now\u2063 include pricing in rate cuts as early as May, with the odds of a cut of at \u200cleast 25 basis points rising to nearly 49% compared to 41% a week earlier, according to the CME Group&#8217;s FedWatch tool. Many investors anticipate\u2063 that the\u2063 Fed will refrain \u200dfrom raising interest rates further by the \u2063end \u2062of the year, which fosters optimism in capital markets and could \u2063set the stage for a strong rally in the fourth quarter.<\/p>\n<p>However, cautious statements from \u2064several central bank officials have kept investors on edge.\u2062 Fed Governor Michelle Bowman \u200dnoted the possibility of further rate hikes due to the strength of the US\u2062 economy. Meanwhile, Fed Chair Jerome\u200c Powell did not \u200dcomment on monetary policy during \u200bhis\u2063 opening remarks at the US central bank\u200b statistics conference. Powell is \u2064scheduled to speak at another conference on Thursday.<\/p>\n<p>The benchmark US 10-year Treasury\u200d yield has edged lower to 4.5522%, moving\u2062 further away from the 5% level breached \u200cin October. Analysts have mixed views regarding the outlook for equities towards the \u200cend of the year. Some are cautiously optimistic about the\u2064 prospects of a rally, while others \u2062highlight concerns \u200babout \u200beconomic growth and tepid earnings forecasts that may keep sentiment subdued.<\/p>\n<p>On\u200b the earnings front, eBay experienced a\u200d 5.5% \u2062drop as \u200cthe e-commerce platform forecasted revenue and profit for the fourth \u200bquarter\u200d below Wall\u2063 Street estimates. Conversely, Under\u200c Armour rose \u200dby 4.8% after raising its annual gross margin forecast.\u2064 Warner Bros Discovery slumped by 14.4% after warning that Hollywood strikes \u200dand a weak advertising market could impact next year&#8217;s earnings.<\/p>\n<p>Most of the\u2062 major S&#038;P 500 sectors rose, \u2064with information technology leading the gains at 0.6%. At the time of writing, the Dow Jones Industrial\u200d Average was up 76.60 points, or 0.22%, the S&#038;P 500 was up 9.54 points,\u2062 or 0.22%, and the Nasdaq Composite was up 22.89 points, or 0.17%.<\/p>\n<p>Among other movers, Take-Two \u200cInteractive Software rose by<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By\u00a0Amruta Khandekar\u00a0and\u00a0Shristi Achar A November 8, 2023 \u2013 3:25 PM UTC Advertisement (Reuters) \u2013 Wall Street\u2019s main indexes inched higher on Wednesday as investors parsed earnings reports and comments from Federal Reserve officials for clues on how long the U.S. central bank will keep interest rates high and eventually start cutting it. Treasury yields have<\/p>\n","protected":false},"author":1911,"featured_media":2093880,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2093879","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2093879","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1911"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2093879"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2093879\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2093880"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2093879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2093879"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2093879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}