Stock Rally Stalls, Fed Meeting Looms

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Federal Reserve meeting

Yahoo Finance

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US Politics

The final Fed meeting of 2024 awaits: What to know this week

Summary

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92% Informative

The Nasdaq Composite was the only of the three major indexes to post a weekly gain.

The Dow Jones Industrial Average has now fallen for seven straight sessions, its worst stretch since February 2020 .

Markets are pricing in a roughly 97% chance the Federal Reserve will cut interest rates by 25 basis points.

The Nasdaq Composite closed above 20,000 for the first time ever on Wednesday .

The equal-weighted version of the S&P 500 (^SPXEW), which isn't overly influenced by movements in large stocks within the index, is down more than 3% .

For now, a rally in the largest tech stocks in the market is keeping the benchmark index afloat.

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formal

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English

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