WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
Tech stood out among S&P 500 sectors on Friday, gaining 2.35% on the day and 4% on the week.
Wall Street’s strength will seemingly depend on whether or not the U.S. central bank will capture an economic soft landing. Investors are hoping for a series of benchmark interest rate cuts beginning in March, although they are less sure the initial cut will come to fruition.
Data from the CME Group’s FedWatch Tool as of Friday shows investors are now pricing in a roughly 47% chance of a Fed rate cut in March, a steep decrease from 81% a week earlier.
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