Wall Street Rally Halted Before Federal Reserve Policy Meeting
A rally that lifted technology stocks to record highs has stalled, with traders holding off on big bets ahead of the Federal Reserve’s policy meeting next week. The Fed is expected to announce a rate cut following similar moves by the European Central Bank and Swiss National Bank.
Treasuries fell for a fourth day, while bond advances failed to gain traction. In after-hours trading, chip supplier Broadcom gained over 5% on strong profit results in the fourth quarter, driven by growing demand for artificial intelligence. The Nasdaq 100 exchange-traded fund rose just 0.1%, indicating a cautious market mood ahead of the Fed’s decision.
Source: https://www.bloomberg.com/news/articles/2024-12-11/stock-market-today-dow-s-p-live-updates