Wall Street started higher ahead of Trump's inauguration on Monday. Investors expect a flurry of executive orders, including on crypto and TikTok.
Donald Trump is expected to elevate Michelle Bowman, a fifth-generation community banker and current Fed governor, as the government’s most influential banking regulator.
Investors have been hoping Donald Trump's return to the White House next week will boost the U.S. stock market, while Goldman Sachs sees stocks benefiting from the biggest expected company buybacks in at least five years.
U.S. stock indexes drifted lower following a mixed set of earnings reports from Morgan Stanley, UnitedHealth Group and other big companies
Citi—which anticipates five rate cuts in 2025—has a downbeat forecast for a meager 0.7 percent growth. Bank of America is forecasting an above-consensus 2.4 percent growth for the year, hence their view for no rate cuts. ING, meanwhile, expects two percent growth.
The need for a debt limit hike of trillions and signs of growing bond market concerns could trim Republican economic plans sharply.
Wall Street has been lurching down and up for weeks as traders tear up their forecasts for what the Fed will do with interest rates in 2025. A further easing would boost the U.S. economy and prices for investments, but it could also give inflation more fuel.
The S&P 500 was 1.5% higher in early trading. The Dow Jones Industrial Average was up 652 points, or 1.5%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 1.7% higher.
US stock indexes are drifting following a mixed set of earnings reports from Morgan Stanley, UnitedHealth Group and other big companies.
U.S. stock indexes held firmer and finished mixed a day after strong reports on the economy stirred up worries that inflation and interest rates may remain higher than expected.
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Wall Street is drifting and making smaller moves on Wednesday, a day after strong reports on the economy stirred up worries that inflation and interest rates may stay higher than expected.