"Wall Street Gains as Yields Ease Ahead of Fed Rate Decision"

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Source: Reuters.com
"Wall Street Gains as Yields Ease Ahead of Fed Rate Decision"
Photo: Reuters.com
TL;DR Summary

U.S. stocks rose as Treasury yields retreated ahead of the Federal Reserve's expected decision to maintain its key rate, easing concerns over higher rates. Investors are focused on the Fed's economic projections and Chair Jerome Powell's comments for clues on the outlook for rates and inflation. Recent economic data has shown easing core inflation, but a surge in oil prices has clouded the outlook for headline inflation. The market is anticipating a hawkish pause in rate hikes. All major S&P 500 sectors rose, with real estate and industrials leading gains. Pinterest gained on a Citigroup upgrade and share buyback, while Coty raised its sales forecast. Dollar General fell after a downgrade.

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