Stock Market Today: Indexes Rise On Upbeat Retail Sale Data Ahead Of Fed Meeting

Traders work on the floor of the New York Stock Exchange.Spencer Platt/Getty ImagesStocks pushed higher as positive retail sales surprised investors.The data signals continued consumer strength, easing fears of a recession.All eyes are on the Federal Reserve's likely interest rate cut on Wednesday.Stocks moved higher after stronger-than-expected US retail sales boosted confidence in consumer health, as the Federal Reserve's two-day policy meeting is set to kick off.Retail sales increased 0.1% last month, compared to consensus estimates of a 0.2% decline.

BING NEWS:
  • Retail Sales Rise 0.1% In August, More Than Expected, Boosting Odds Of Larger Fed Rate Cut
    Before the retail sales data was released, market-implied probabilities pointed to a 67% chance of a 50-basis-point rate cut, compared to a 33% likelihood of a smaller 25-basis-point cut, according to the CME FedWatch Tool.
    09/16/2024 - 9:42 pm | View Link
  • Wall Street predictions grow for aggressive half-point Fed rate cut
    Futures traders boosted expectations in the past week of a bigger trim than the traditional 0.25 percentage point change
    09/16/2024 - 10:14 am | View Link
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