Stock Market Update
07-Feb-25 12:30 ET
Rate cut expectations shift
Dow -313.41
at 44433.14,
Nasdaq -250.90
at 19622.99,
S&P -46.89
at 6036.68
[BRIEFING.COM] The stock market is moving sideways at the index level. The S&P 500 sports a 0.7% decline.
Earlier, Fed Governor Kugler (FOMC voter) said in a speech that the US economy remains on a firm footing.
Rate cut expectations shifted following this morning's data. The fed funds futures market now sees a 51.7% probability of a rate cut by the June FOMC meeting, down from 64.6% yesterday, according to the CME FedWatch Tool.
