Traders focus on the Federal Reserve's interest rate cuts, U.S. stocks rebound with all three major indices rising over 1%

2024-09-09 22:30:57

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ChainCatcher news, as traders focus on Wednesday's inflation data and the Federal Reserve's potential interest rate cut next week, U.S. stocks are set to end a four-day decline triggered by growing concerns over an economic slowdown on Monday. All three major indices rose over 1%, with 10 out of the 11 sectors in the S&P 500 advancing, led by consumer discretionary and industrial sectors.

Ivan Feinseth, Chief Investment Officer of investment bank Tigress Financial Partners, stated, "Despite the weak labor market and the potentially weakening U.S. economy continuing to exert pressure, the market's response to buy on dips continues to support the stock market." Following last Friday's data showing U.S. job growth in August fell short of expectations, Wednesday's CPI report may provide Federal Reserve officials with assurance that inflationary pressures are stabilizing. The U.S. presidential debate between Vice President Harris and former President Trump on Tuesday night may inject some uncertainty into the market this week. (Jin Shi)

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