Stock Market Update
29-Sep-26 14:55 ET
Major averages back near best levels amid dovish Fed commentary
Dow -155.69
at 51325.73,
Nasdaq +11.18
at 26852.60,
S&P -7.88
at 7675.91
[BRIEFING.COM] The S&P 500 (-0.1%), Nasdaq Composite (flat), and DJIA (-0.3%) are back near their flat lines as the market enters the final hour of the session.
Stocks received a nice bump higher right at 2:00 p.m. ET following remarks from New York Fed President John Williams (voting FOMC member). Mr. Williams said, "As I consider the future path of monetary policy, I will continue to assess the underlying trends in inflation and the balance of supply and demand in the economy. With the policy action we took at our September meeting, there is no need for urgency, and we have time to gather more information."
Expectations for the Fed to keep rates on hold at the October FOMC meeting have increased in response, with the CME FedWatch Tool now assigning a 48.5% probability to no change in rates, up from 29.1% before Mr. Williams' remarks.
