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Stocks, Gold, Bonds Rally Further, Dollars Tumbles As Traders Anticipate Fed Cuts: What's Driving Markets Friday?

Benzinga ·  12/02/2023 03:36

Kicking off the new month, Wall Street continued its strong November momentum, with major U.S. stocks rallying on Friday. The S&P 500, Dow Jones, and Nasdaq indices are all set for their fifth consecutive week of positive movement. Investor optimism further improved, driven by growing speculation of Fed rate cuts in 2024, despite Fed Chair Powell's cautious remarks.The ISM manufacturing activity slowed more than predicted in November, contributing to a marked drop in Treasury yields. According to CME Group Fed Watch tool, fed futures are currently anticipating the first interest rate cut in March 2024, with a probability

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