Dow Jones gains; Fed pauses rate hikes for now, according to Investing.com

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Investment Network

As of 06:20 ET (11:20 GMT), the contract was up 35 points, or 0.1%, and up 9 points, or 0.2%, to a maximum of 40 points, or 0.3%.

Wall Street’s major indexes had their best week of the year last week as October stoked hopes that the Federal Reserve’s era of unprecedented monetary tightening may be coming to an end.

The index rose 5.1%, its best week since October 2022, while the index rose 5.9%, while the index rose 6.6%, its strongest week since November last year.

There won’t be a lot of market-moving data in the coming week, but several Fed spokesmen have weighed in on economic issues this week, including two appearances by the Fed chairman.

Investors are increasingly confident that inflation will continue to slow, especially after Friday’s jobs report, prompting the Federal Reserve to ease policy next year just to prevent it from becoming more pragmatic.

Fed funds futures suggest there is about an 85% chance that the Fed will complete its rate hike cycle, while there is an 80% chance that it will begin cutting interest rates in June.

Earnings season is coming to an end, with 80% of S&P 500 companies having reported quarterly financial results.

However, there are still several important companies reporting earnings this week, including Walter disney (NYSE: ), Wynn Resorts (NASDAQ: ), Occidental Petroleum (NYSE: ) and DR Horton (BVMF: ).

Tesla (NASDAQ: TSLA) will also be in the spotlight as Reuters reports that the electric carmaker is preparing to build a new electric vehicle model at its Berlin factory, targeting The price is 25,000 euros, which is much cheaper compared to current prices. These options are currently available in Germany. (1 Euro = 1.0753 USD)

Futures were up 1.7% at $81.88 a barrel as of 06:20 ET, while the contract was up 1.6% at $86.25 a barrel.

Both indexes fell about 6% last week as geopolitical risks receded and Israel’s war with Hamas so far showed no signs of cooling in the Middle East.

Elsewhere, prices fell 0.3% to $1,993.60 an ounce, while rising 0.2% to $1.0748.

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