U. S. indices are rising due to weakness of dollar

U. S. indices are rising due to weakness of dollar

By Tiffany Smith

Budrigannews.com – On increasing expectations that the Federal Reserve will become less aggressive with its interest rate hikes, the and indexes rose Monday afternoon, led by technology shares.

As U.S. Treasury yields fell, technology led gains in the S&P 500, while the Nasdaq led gains in the major indexes.

The Dow dipped slightly.

Additionally, the stock of consumer discretionary companies like Amazon.com Inc. (NASDAQ:) up after Jefferies said that the e-commerce giant’s cost pressures would ease in the second half of the year.

Investors are anticipating Fed Chair Jerome Powell’s remarks on Tuesday, in which he is expected to assert that more time is required to demonstrate that inflation is under control.

The odds of a 25-basis point hike at the Fed’s policy meeting in February were 79%, according to money market bets.

According to Quincy Krosby, chief global strategist at LPL Financial (NASDAQ:), the consumer prices report on Thursday could have a significant impact on rate expectations. in North Carolina’s Charlotte. For fine-tuning the Fed funds futures market, this week’s CPI report will be crucial.”

Additionally, the fourth-quarter earnings season for S&P 500 companies is about to begin, and top U.S. banks’ reports are anticipated later this week.

The S&P 500 gained 17.57 points, or 0.45%, to 3,912.65, the Nasdaq Composite gained 138.83 points, or 1.31 percent, to 10,708.12, and the fell 9.63 points, or 0.03%, to 33,620.98.

The jobs report on Friday, which showed that wage increases were moderate, also raised hopes that the Fed might be less aggressive in its effort to reduce inflation through rate hikes.

NASDAQ: Tesla Inc rose after the maker of electric vehicles said that there were longer waiting times for some Model Y versions in China, indicating that the recent price cuts might be increasing demand.

The Macy’s Inc. and Athletica Lululemon (NASDAQ:) After both retailers provided disappointing holiday-quarter forecasts, the stock fell.

On the NYSE, there were 2.60 times more advancing than declining issues; Advancers were favored by a ratio of 1.93 to 1 on Nasdaq.

More Jefferies analysts downgrade PENNY Entertainment

There were two new lows and 13 new 52-week highs for the S&P 500; 114 new highs and 23 new lows were recorded by the Nasdaq Composite.