Stock Market Update
08-Apr-26 15:30 ET
Oil retreat gives modest boost to rate cut odds ahead of PCE Price Index release
Dow +1175.33
at 47758.68,
Nasdaq +544.20
at 22562.06,
S&P +148.29
at 6767.23
[BRIEFING.COM] The major averages continue to trade in a relatively tight range just before the close.
While today was relatively light on the data front, tomorrow's action will feature a full slate of economic data, including the PCE Price Index for February (Briefing.com consensus 0.4%), the Fed's preferred inflation gauge.
The ceasefire agreement (though temporary) and subsequent slide in oil prices have combined for a modest uptick in the market's implied rate cut expectations, with the CME FedWatch tool now assigning a 24.8% probability to at least a 25-basis point rate reduction at the December FOMC meeting, up from 14.1% yesterday.
