Stock Market Update
02-May-25 11:35 ET
Rate cut expectations shift after data
Dow +383.66
at 41135.76,
Nasdaq +229.51
at 17940.25,
S&P +64.99
at 5669.13
[BRIEFING.COM] There hasn't been much up or down action at the index level in recent trading.
The market's expectation for future rate cuts has shifted slightly following this morning's data. The fed funds futures market now sees a 59.9% probability of the FOMC holding rates steady at the June meeting, up from 41.8% yesterday, according to the FedWatch Tool.
Recent gains in the stock market were partially driven by some optimism that the Fed may be cutting rates sooner than later in response to weakening economic data.
