"Market Rally Sustains as Stocks Maintain Gains Following Fed Rate Announcement"

The stock market stabilized after a strong rally, as traders anticipate rate cuts by the Federal Reserve next year while expecting policymakers to counter the recent easing in financial conditions. The S&P 500 edged slightly higher, heading for its sixth consecutive advance. The reversal of moves in Treasuries, with 10-year yields up seven basis points to 4.65%, limited gains. Traders are pricing in over 100 basis points of rate cuts by the end of next year. A raft of Fed officials, including Chair Jerome Powell, is scheduled to speak in the coming days.