US futures rise with jumbo Fed cut back on the table
Published On Sep 13, 2024, 6:47 AM
US stocks saw significant gains, with the S&P 500 up 0.5%, the Nasdaq Composite up 0.7%, and the Dow Jones gaining 0.5%. The positive movement is largely driven by increased expectations of a 50 basis point interest rate cut from the Federal Reserve. The odds of this larger cut jumped significantly from 15% to nearly 50% amid shifting market sentiments. Despite this, concerns remain regarding a potential labor market slowdown and recession risks, which could create ongoing volatility in the market.