Wall Street’s main indexes were flat as investors stepped onto the sidelines ahead of the Federal Reserve’s highly anticipated first interest rate cut in more than four years.
Read More Wall St subdued as investors await Fed decision with bated breath
Federal Reserve policymakers are increasingly attentive to the U.S. labor market as they prepare for a policy-setting meeting later this month.
Read More Fed rate-cut size this month to hinge on job market health
Wall Street’s main indexes fell over 1% as investors assessed latest factory activity data.
Read More Wall St kicks off September on downbeat note at start of data-packed week
Consumer spending increased solidly in July, arguing against a half-percentage-point interest rate cut from the Federal Reserve next month.
Read More US consumer spending solid in July; inflation rises moderately
Wall Street’s stock indexes increased substantially on Friday, with the S&P 500 index climbing towards a record high, after Federal Reserve Chair Jerome Powell said “the time has come” to reduce interest rates.
Read More Dow Surges 400 Points as Wall Street Cheers Powell’s Fed Rate Cut Announcement
Federal Reserve Chair Jerome Powell offered an explicit endorsement of interest rate cuts, saying further cooling in the job market would be unwelcome.
Read More Fed’s Powell says ‘time has come’ to lower interest rates