Stock Market Update
31-Jan-25 10:30 ET
Rate cut expectations little changed after data
Dow +67.96
at 44951.15,
Nasdaq +255.33
at 20018.99,
S&P +42.58
at 6113.75
[BRIEFING.COM] The S&P 500 trades about 45 points higher and the Nasdaq Composite trades about 250 points higher.
Chicago Fed President Austan Goolsbee (FOMC voter) said in a CNBC interview that he believes the US is on path to 2% inflation and that rates will be lower in 12-18 months.
Rate cut expectations haven't shifted much after this morning's data. There is a 70.1% probability of a 25 basis points rate cut to 4.00-4.25% at the June FOMC meeting versus a 71.7% probability a day ago and 69.6% a week ago, according to the CME FedWatch tool.
