Interest charge

Traders brace for slowing Fed charge hike

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  • US stocks surged on Tuesday as traders braced for a potential December slowdown in Fed interest rate hikes.
  • The market consensus is currently expecting prices to rise by only 50 fundamental points at the December meeting.
  • Mixed retail revenues confirmed pockets of power within the customer and the broader US financial system.

US stocks surged on Tuesday as traders braced for a possible slowdown in interest rate hikes from the Federal Reserve.

The current market consensus expects prices to rise by just 50 basis points at the December Fed meeting, according to the CME FedWatch Tool, with an assigned probability of 75%. Supported this view was Fed Chair Loretta Mester, who mentioned in an interview on Monday that she supports a lower rate hike at the upcoming FOMC meeting compared to the series of 4 price hikes. consecutive 75 basis points from the central financial institution.

This year’s drastic interest rate will only have to slow down the buyer, based on studies of flat retail earnings on Tuesday. Best Buy and DICK’s Sporting Goods reported better-than-expected results and raised their full-year outlook. Each stock jumped about 10% in Tuesday’s trading.

Here’s where the U.S. indices stood at the close of 4:00 p.m. ET on Tuesday:

Here’s what else is happening this morning:

In commodities, bonds and crypto:

  • West Texas Intermediate crude oil jumped 1.35% to $81.12 a barrel. Brent, the global oil benchmark, rose 1.15% to $88.46.
  • Gold rose just 0.02% to $1,739.90 an ounce.
  • The 10-year Treasury yield fell six fundamental points to 3.77%.
  • Bitcoin rose 2.13% to $16,134, while Ether jumped 2.45% to $1,126.

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