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In commodities, bonds, and crypto: West Texas Intermediate crude oil slumped 1.10% to $73.44 a barrel. Brent crude , the international benchmark, inched up 0.16% to trade at $76.28 a barrel.
In commodities, bonds, and crypto: West Texas Intermediate crude oil rose 3.95% to $80.56 a barrel. Brent crude , the international benchmark, edged up 0.59% to $82.51 a barrel.
Bond yields soared after the Fed's summary of economic projections and Powell's remarks indicated just two rate cuts in 2025. The 10-year Treasury yield spiked 10 basis points to 4.49%.
Stock indexes retreated as investors digested Thursday commentary from Fed Chair Jerome Powell. The odds of a 25-basis-point rate cut in December fell sharply after Powell's address.
Yields on government bonds also rose, with the yield on the benchmark 10-year U.S. Treasury note at around 3.617% early Monday, off a couple basis points from Friday's settlement.
Here's what else happened today: The Fed won't cut rates at all in 2025 , Deutsche Bank says. The area of the stock market investors should avoid next year , according to Wells Fargo.
In commodities, bonds, and crypto: West Texas Intermediate crude oil declined 0.48% to $70.95 a barrel. Brent crude , the international benchmark, was lower by 0.46% to $74.15 a barrel.
On Tuesday, Fed Governor Michelle Bowman explained why she dissented against a deep cut in September. Stocks on Tuesday extended a winning streak that has pushed the Dow Jones Industrial Average ...