Weak jobs data has fueled expectations the Fed will ease borrowing costs
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| | | 6/07/2019 | |
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| Stocks Set for Best Week of 2019 | | By Karee Venema | | This morning's dismal jobs data has ramped up expectations the Fed will lower interest rates, with CME Group now estimating a 25.8% chance of a rate cut at the central bank's June meeting, compared to a 10% probability one month ago. As such, traders are flocking to riskier assets, with the Dow Jones Industrial Average (DJI) pacing for its fourth straight triple-digit gain. Reports that the U.S. will delay increasing tariffs on Chinese imports and a surge in tech stocks are only fueling the upside, with the Dow, S&P 500 Index (SPX), and Nasdaq Composite (IXIC) all on track for their biggest weekly gains of the year. Continue reading for more on today's market, including: | | >> Continue reading... | |
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