The US stock market experienced little change on Thursday, despite an early rebound, as investors digested the Federal Reserve’s signal that it may deliver fewer interest rate cuts next year. Several companies reported disappointing earnings, while others beat expectations. The yield on the 10-year Treasury rose to 4.57%, putting pressure on the housing market. Despite this, indexes remain near their records, with the S&P 500 edging down 0.1%. Major stocks like Darden Restaurants and Accenture delivered strong quarterly results, while Micron Technology and Lamb Weston reported disappointing earnings.
The market’s struggles this week have taken some of the enthusiasm out of the market, but experts say indexes remain near their records due to high expectations for growth. Traders now expect the Federal Reserve to deliver just one or two interest rate cuts next year, which could impact the economy and inflation.
Source: https://finance.yahoo.com/news/stock-market-today-asian-shares-050926697.html