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The labor market, on the other hand, appears to be a smaller source of stress for the Fed, but Powell said it's "prepared to adjust the pace and destination" of easing as the jobs data evolves.
Indexes edged slightly higher as traders took a breather after the huge post-election rally. The Fed will deliver its next rate decision at 2 p.m.
Here's what else happened today: Bitcoin hit a fresh record above $107,000 as fresh bullishness drove a surge in the crypto token. Here is a complete rundown of Wall Street's 2025 S&P 500 targets.
The top event on investors' radar this week is the Federal Reserve's final Federal Open Market Committee meeting of the year, in which they're expected to cut interest rates by 25 basis points.
The unemployment rate ticked slightly higher to 4.2% from last month's 4.1%. Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Friday: S&P 500 : 6,091.75, up 0.27%
The 2-year yield — most sensitive to near-term rate forecasts — has risen 7 basis points in the last two days. Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Friday ...
The data came in higher than consensus estimates of 0.2%. On an annual basis, wholesale inflation came in at 3%. Core PPI, which excludes food and energy prices, rose in line with economists ...
China's bond market seems skeptical that recent stimulus will be enough to revive its economy. US homes are turning over at the lowest rate in 30 years, according to data from Redfin.