HomeFinancial MarketsStocks Remain Steady as Investors Hope for Rate Cuts

Stocks Remain Steady as Investors Hope for Rate Cuts

New York stocks remained steady on Monday as a holiday-shortened week of trading got underway. Futures on the S&P 500 and the Dow Jones Industrial Average remained stagnant, while those on the Nasdaq 100 edged 0.2% upwards. This comes as investors become hopeful that the Federal Reserve will soon begin reversing its tight fiscal policy in an effort to combat inflation.

Following the release of economic data last week that pointed to signs of cooling inflation, markets have now priced a 30% chance that the Federal Reserve could implement its first interest rate cut as soon as March.

In order to get a clearer picture of the Fed’s economic outlook, investors will await the release of the minutes of the central bank’s meeting last week. Nvidia’s financial results are also awaited in order to gauge the artificial intelligence market. Both sets of results are due on Tuesday.

Zoom Tops Estimates, Raises Full-Year Forecast

Zoom Video Communications reported its earnings for the first quarter of 2024 on Monday and topped the estimates of Wall Street analysts. The communications...

Reddit Stock Jumps on the Back of Open AI Partnership

Social media platform Reddit announced earlier this week that it is partnering up with artificial intelligence start-up Open AI to improve the experience of...

Warren Buffett’s Berkshire Hathaway Reveals Its Secret Stock

For the past three regulatory filings, Warren Buffett’s Berkshire Hathaway has been keeping one of its stock holdings confidential. Now, the conglomerate revealed that...