"US Stocks Teeter as Hopes for Fed Rate Cut Resurface"

US stocks were mixed as investors reacted to the possibility of the Federal Reserve cutting interest rates sooner than expected and revised data showing stronger-than-expected US economic growth in the third quarter. The Dow Jones Industrial Average ended slightly higher, while the S&P 500 and Nasdaq Composite both fell slightly. Interest rate-sensitive sectors, such as real estate and financials, led the gains. Investors are increasingly betting on an earlier interest rate cut by the Fed, with markets now pricing in a 78% chance of a cut by the end of May. GameStop stock soared over 20% as meme stocks and other speculative trades rebounded. General Motors stock also surged after announcing a $10 billion stock buyback plan and dividend increase.
Reading Insights
0
1
10 min
vs 11 min read
94%
2,076 → 120 words
Want the full story? Read the original article
Read on Yahoo Finance