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Bloomberg Quint
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S&P 500 Struggles To Extend Post-Election Advance: Markets Wrap
- Stocks wavered as speculation the market has run too far after the US election offset bets the Federal Reserve will keep cutting rates.
- Equities lost steam in the final stretch of New York trading, with the S&P 500 almost erasing an advance partly fueled by in-line inflation data.
- Swap traders boosted to about 80% the probability that the Fed will cuts rates again on Dec. 18.
- Shorter-dated Treasuries outperformed, with the yield on two-year notes dropping from the highest since July.
- The dollar held at a two-year high.
- Despite S&P 500's little change, Nasdaq 100 fell by 0.2%, while the Dow Jones Industrial Average rose 0.1%.
- At Citigroup Inc., economists maintained their view that the Fed will cut rates by 50 basis points in December after the CPI data.
- With inflation still stubbornly above the Fed’s 2% goal, the Fed may have only one rate cut left in December before taking a pause.
- Traders are betting on a 0.9% move for the US equity benchmark in either direction on Nov. 21—the session after the giant chipmaker, Nvidia, delivers results.
- Mastercard Inc. projected slower annual net revenue growth for the 2025 to 2027 period as the firm strives for a larger slice of the digital payments market.
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