Summary
Wall Street ended its best week in over a month, with the S&P 500 and Nasdaq both near record highs. This rise is partly due to expectations that the Federal Reserve will lower interest rates soon. The Dow Jones dropped slightly, while the Nasdaq saw a small gain.
Key Facts
- The S&P 500 slightly decreased by less than 0.1% from its all-time high.
- The Dow Jones Industrial Average fell by 273 points, or 0.6%.
- The Nasdaq composite increased by 0.4%, hitting its own record.
- Investors expect the Federal Reserve to reduce interest rates at an upcoming meeting.
- Anticipation of rate cuts has also led to a drop in mortgage rates.
- The University of Michigan reported that consumer inflation expectations remained stable at 4.8%.
- RH’s stock fell by 4.6% due to lower than expected profits and revenue.
- Microsoft’s stock rose 1.8% after Europe's regulators approved changes to its Teams software.
