From Yahoo Finance: 2024-05-01 19:36:05

Wall Street traders cheered when Fed Chair Powell suggested no interest rate hikes were imminent, leading to a post-meeting rally in US stocks and a drop in Treasury yields. However, Powell did not promise rate cuts either, dampening market optimism and causing equities to end lower. Investors have grown wary of a potential hawkish shift from the Fed, evidenced by the recent selloff in bonds and stocks. Forecasters now predict only one rate cut compared to six expected earlier this year. The Fed’s stance on rate policy and upcoming economic data will determine market trends moving forward.



Read more at Yahoo Finance: Jerome Powell Offered Markets a Reprieve. It Vanished in a Blink