Stock market today: S&P 500, Nasdaq poised to resume rally with jumbo Fed cuts back on the table

Published On Sep 13, 2024, 6:47 AM

US stocks saw gains on Friday, leading to strong weekly performance, spurred by rising expectations for a significant interest rate cut by the Federal Reserve. The S&P 500 increased by 0.5%, the Nasdaq Composite rose by 0.7%, and the Dow Jones added about 300 points. The Nasdaq had its best week this year with an over 5% gain, while the S&P rose by 4% and the Dow by 2%. The market reacted to speculation of a potential half-point rate cut after traders shifted their expectations due to recent reports and comments from former Fed officials suggesting the Fed might need to adjust rates to manage economic risks.