S&P 500 Tops 6,600 as Bond Yields Fall Before Fed: Markets Wrap

Wall Street notched fresh highs amid bets that a Federal Reserve rate cut Wednesday is a sure thing, with traders waiting to see whether officials will validate expectations for a series of reductions into next year.

A $14 trillion record-breaking run in US equities is heading for an inflection point, with the first rate cut since Donald Trump became president likely to seize the spotlight in a week that will determine policy settings for half of the world’s 10 most-traded currencies.