© Reuters
Investing.com — The Dow closed higher Tuesday, underpinned by a fall in Treasury yields as dovish remarks from some Federal Reserve officials boosted bets on rate cuts.
By 16:00 ET (21:00 GMT), the rose 83 points, or 0.2%, the was 0.1% higher and the rose 0.3%.
The main Wall Street indices are on course to post strong gains in November – the DJIA set to finish the month 6.9% higher, the up 8.5% and the technology-heavy Nasdaq 10.8% higher.
Treasury yields slip as Fed speak boosts rate-cut hopes
Federal Reserve Board Governor Christopher Waller said he was “increasingly confident” that policy is currently well positioned to slow the economy and get inflation back to 2% target.
Adding to clout to bets of a Fed rate cut early next year, Waller added that should data show disinflation continuing for several more months, the Fed “could then start lowering the policy rate just because inflation’s lower.”
Treasury yields fell on the remarks, with the yield on falling nearly 12 basis points to about 4.74%, while the yield on the fell 6 basis points to 4.330%.
The remarks come just ahead of the Fed’s preferred inflation gauge, the , on Thursday, which…
Read the full article here