Stock Market Update
02-Dec-25 12:25 ET
President Trump to announce Fed Chair candidate in early 2026
Dow +241.76
at 47530.88,
Nasdaq +162.46
at 23438.42,
S&P +22.10
at 6834.72
[BRIEFING.COM] The S&P 500 (+0.3%), Nasdaq Composite (+0.7%), and DJIA (+0.5%) are modestly improved from a late-morning slide in equities that wiped out a sizable chunk of their earlier gains.
During a Cabinet meeting, President Trump said he plans to unveil his choice for the next Fed Chair in early 2026.
Reports suggest that National Economic Council Director Kevin Hassett remains the frontrunner for the position.
The market's rate cut expectations are holding steady, with the CME FedWatch tool currently assigning an 87.2% probability to a 25-basis point rate cut at the December FOMC meeting, up from 86.4% yesterday and 85.2% one week ago.
