By Lisa Pauline Mattackal and Ankika Biswas | Reuters
Summary:
- Major indexes at fresh record highs
- US weekly jobless claims rise moderately
- Small-caps edge lower, financials fall
- Fed likely to cut rates by 25 bps
- Indexes: Dow down 0.04%, S&P 500 up 0.61%, Nasdaq up 1.30%
Nov 7 (Reuters) – Wall Street’s main indexes added to their gains on Thursday in the run-up to the Federal Reserve’s interest-rate decision, extending a sharp rally sparked by Donald Trump’s stunning comeback as U.S. president for a second time.
Traders have about fully priced in a 25-basis-point rate cut, but will keep a close watch on the central bank’s commentary for clues on the future path of monetary easing.
Investor expectations that Trump would lower corporate taxes and loosen regulations had lifted all three major indexes in the previous session.
