Wall Street Soars, Small Caps Surge Following Fed's Dovish Comments: Market Updates for Friday
Market Rebound: Wall Street experienced a significant rebound after a volatile week, driven by dovish comments from Federal Reserve officials suggesting a potential rate cut next month, with the probability of a December cut rising to 70%.
Sector Performance: All 11 S&P 500 sectors saw gains, particularly basic materials and consumer discretionary, while homebuilders, tracked by the XHB ETF, surged 5.3%, marking their best day since April.
Interest Rates and Treasury Yields: Treasury yields fell, with the 10-year note dropping to 4.05%, the lowest since late October, as investors reacted to the dovish shift in monetary policy.
Struggles in AI and Crypto: Despite the overall market rally, AI stocks like Oracle continued to decline, while cryptocurrencies like Bitcoin and Ethereum also faced losses, with Bitcoin dipping to an intraday low of $80,000.
About the author









