Stock Market Update
18-Sep-24 12:40 ET
Fed funds futures market repricing in front of FOMC announcement
Dow -13.29
at 41592.89,
Nasdaq -1.94
at 17626.10,
S&P +1.34
at 5635.92
[BRIEFING.COM] The market moved slightly higher in recent trading.
The fed funds futures market is now pricing in a 55% probability of a 50 basis points rate cut today, down from 64% yesterday, according to the CME FedWatch Tool.
Elsewhere, the 2-yr yield, which is most sensitive to changes in the fed funds rate, is at 3.65%, up six basis points from yesterday.
