Stock Market Update
12-Dec-24 12:05 ET
Rate cut expectations little changed by data
Dow -87.87
at 44060.69,
Nasdaq -64.78
at 19969.65,
S&P -13.62
at 6070.57
[BRIEFING.COM] The major indices remain below prior closing levels.
Rate cut expectations were little changed by this morning's data. The fed funds futures market sees a 98.1% probability of a 25 basis points rate cut at the FOMC meeting next week, little changed from the 97.5% probability yesterday and up from 71.0% one week ago, according to the CME FedWatch tool.
Separately, the 10-yr yield moved up to 4.31% in recent action.
