Stock Market Update
13-Aug-25 14:55 ET
Rate cut expectations continue to be key driver
Dow +406.57
at 44865.18,
Nasdaq +17.99
at 21698.50,
S&P +12.77
at 6458.53
[BRIEFING.COM] The S&P 500 (+0.2%) and Nasdaq Composite (+0.1) battle to capture even the most modest gains that would result in new record closing highs.
Chicago Fed President Austan Goolsbee (voting FOMC member) said at an event today that he is not committed to a September rate cut, citing concerns about an increase in services inflation, though he noted that the labor market is in good shape.
Atlanta Fed President Raphael Bostic (not a voting FOMC member) also spoke today and noted that a strong labor market gives the Fed the luxury to wait to make policy adjustments.
The CME FedWatch tool now shows a 97.9% probability of a September rate cut, which is still an overwhelmingly likely figure, though it is 2.0% lower than the 99.9% probability displayed earlier in the day.
