Wall Street Eyes Fifth Day Of Gains, Silver Hits Record Highs At $55: What’s Moving Markets Friday?
Stocks were rising again midday Friday, putting Wall Street on pace for a fifth straight day of gains as rate cut hopes surged and risk appetite returned across tech, crypto and commodities.
Traders now see an 88% chance the Federal Reserve will cut interest rates by 25 basis points at its Dec. 10 meeting, up from just 50% last week, according to CME FedWatch data.
At midday, the S&P 500 was up 0.4% to 6,840, sitting just 1% below its all-time high and heading for its strongest five-day rally since May. The Nasdaq 100 climbed 0.6% above 25,340, while the Dow Jones Industrial Average added 300 points to trade near 47,730, eyeing a record-high close.
Intel Corp. (NASDAQ:INTC) led the S&P 500, jumping nearly 8%, as dip-buying returned to November’s beaten-down tech names.
Crypto-related stocks saw sharp intraday gains after Bitcoin (CRYPTO: BTC) steadied near …
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