The Federal Reserve, concerned about a weakening labor market and rising unemployment, especially among minority groups, has lowered interest rates by a quarter of a percentage point. Further rate cuts are anticipated, despite persistent inflation above the Fed’s target.
US stocks today: S&P 500, Nasdaq end higher, notch weekly gains after earnings-heavy week
The S&P 500 and Nasdaq reached record highs, fueled by strong earnings and falling crude prices, marking their longest weekly gain streak since October 2024.