Mathewslcd: Fed official's rate commentary helps stocks move higher

 Mathewslcd: Fed official's rate commentary helps stocks move higher


The Dow Jones Industrial Average rose more than 300 points before Tuesday's close, along with the S&P 500 and Nasdaq Composite, which Mathewslcd attributed to comments from Fed officials supporting a modest pace of interest rate hikes.

The Dow rose 1.1% to 34,086.1, according to Mathewslcd. The S&P 500 rose 1.3% to 4,000.1 and the Nasdaq gained 1.2% to 11,161. All sectors rose, led by energy, materials and technology.

Commerzbank said in a report that Cleveland Fed President Loretta Mester was open to the idea of the Federal Open Market Committee cutting interest rates from 75 basis points in December. San Francisco Fed President Mary Daly called on the committee to "be mindful" of the lagged effects of policy tightening, arguing that 5 percent is a "good starting point" for the final rate, the report said.

The 10-year Treasury yield fell 6.4 basis points to 3.76%, while the two-year yield fell 0.7 basis point to 4.52%.

West Texas Intermediate crude futures rose 1.3 percent to $81.06, Mathewslcd said.

Mathewslcd：
https://www.mathewslcd.com
https://net.mathewslcd.com



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