While the Fed's rate cut cannot be predicted with certainty, even the widely expected 25 basis point cut will likely pull markets out of that September slough.
Construction workers outside the Marriner S. Eccles Federal Reserve Building, photographed on Wednesday, July 27, 2022 in Washington, DC.This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe, helping the Nasdaq Composite rise 1% The S&P 500 advanced 0.75% and the Dow Jones Industrial Average gained 0.
Jobless claims for the week ending Sept. 7 increased from the previous week to 230,000. But it was a marginal rise, suggesting mass layoffs aren't happening yet.on Thursday, which serves as a leading indicator for consumer prices. A comfortable and expected headline number, but core PPI rose more than forecast.
Prices, then, are falling but there are perhaps stubborn pockets in the consumer economy — like housing and eggs — that are still climbing.Traders are also undecided. They think there's a 57% chance of a 25 point cut and 43% of a 50 point one, according to theadded 0.75% for its fourth consecutive day of gains, and it is just about 1.3% shy of its record close.
While what the Fed will do cannot be predicted with certainty, even the widely expected 25 basis point cut will likely lift sentiment and help pull markets out of that September slough.Get the CNBC Daily Open report in your inbox every morning and keep up to date with the markets wherever you are.
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