"Market Rebounds on Rate Cut Hopes and Powell's Assurance"

Wall Street's main stock indexes rose as recent economic reports increased the likelihood of monetary policy easing, with initial data on state unemployment benefits claims indicating a slowing labor market and supporting the Federal Reserve's target of three rate cuts this year. Investors are awaiting policymakers' clues on the timing of the cuts, with money markets currently seeing a near 60% chance of at least a 25 basis point rate cut in June. Additionally, Levi Strauss gained after raising its annual profit forecast, while Lamb Weston dropped after trimming its full-year revenue and adjusted profit guidance.