Nasdaq 100 Caps Pivotal Fed Week at Record High: Markets Wrap
- US stock gauges notch weekly gains after Fed’s dovish pivot
- Fed’s Williams and Bostic try to tame rate cut expectations
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Wall Street went all in on stocks and bonds this week after Jerome Powell the Federal Reserve affirmed it’s ready to shift to rate cuts.
The US central bank left its benchmark rate unchanged as policymakers pivoted away from further rate hikes, instead penciling in three rate cuts for next year. The Nasdaq 100 closed at an all-time high — it last traded at a record price two years ago. The S&P 500 and the tech-heavy gauge both notched seven-week winning streaks on the back of the Fed’s about-face.