U.S. stocks edge higher; solid earnings season continues
Investing.com -- Financial market bets increased that the Federal Reserve might begin cutting interest rates as early as this month following comments from Fed Chair Jerome Powell at a central banking conference in Sintra, Portugal.
When asked if July was too soon to consider rate cuts, Powell responded that he "can’t say" and emphasized that the decision would depend on economic data.
Following these remarks, short-term interest-rate futures indicated approximately a one-in-four chance of a rate cut at the Fed’s July 29-30 meeting, up from less than one-in-five earlier.
Market pricing now shows a rate cut by September is viewed as virtually certain, with traders expecting two additional rate cuts before the end of the year.
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