Stocks Fizzle at the End

The major averages failed to sustain earlier gains. One analyst believes the market is overbought on expectations of a 50 basis point easing by the Fed

Stocks finished at their lows of the session as growing certainty the Federal Reserve will cut interest rates 50 basis points at its May 15 policy meeting appears already priced into the market. Although the Dow Jones Industrial Average finished positive on strength from cyclicals and retailers, the benchmark was unable to break through the 11,000 resistance level.

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