Stocks Rise as Wall Street Dials Back Fed Wagers: Markets Wrap
- Treasury yields slide on bets Fed heading toward another pause
- Fed’s Bostic says rates high enough to lower inflation to 2%
This article is for subscribers only.
Stocks rose and Treasury yields fell after comments from Federal Reserve officials bolstered speculation the central bank is heading toward another pause in interest-rate hikes. Oil edged lower, following its biggest rally since April.
The S&P 500 advanced for a third straight day, with some analysts also citing a rebound from oversold levels. Amazon.com Inc. gained amid its fall sale for Prime subscribers. PepsiCo Inc. climbed on a bullish forecast. A measure of US-listed Chinese shares added 3.1% as Bloomberg News reported the Asian nation is considering new economic stimulus. European equities rallied the most since November 2022.