Stock Market Update
20-Dec-24 11:05 ET
Stocks energized by Goolsbee comments and drop in rates
Dow +508.56
at 42850.80,
Nasdaq +190.39
at 19601.65,
S&P +60.39
at 5927.17
[BRIEFING.COM] Stocks are staging a nice rebound after this week's declines. The Dow Jones Industrial Average is 1.2% higher today, leaving its decline this week at 2.2%.
The market has been energized by comments from Chicago Fed President Goolsbee (2025 FOMC voter) indicating he thinks rates "will come down a fair bit more." The price action in Treasuries has also supported upside moves in stocks.
The 10-yr yield is down seven basis points to 4.50% and the 2-yr yield is down three basis points to 4.29%.
