Stocks Rally for the Week on Fed Rate-Cut Optimism: Markets Wrap
- Fed’s preferred gauge of inflation rose mildly in August
- Nvidia shares dragged US stock indexes lower on Friday
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US stocks gained for a third consecutive week — despite languishing on Friday — as investors were repeatedly reassured that the economy is cooling without falling off a cliff.
Treasuries rallied as data cemented bets of further interest-rate cuts by the Federal Reserve. Yields are lower across the curve, with the 10-year rate hovering around 3.75%. The Bloomberg Dollar Spot Index declined for a fourth week.