Evening Market Recap - Wednesday, 6-Nov
Update: 2024-11-06
Description
Stocks posted a sizable rally as the S&P 500 put in its best session in over two years, sparked by the Trump election victory and a potential for a Red Sweep (House still not yet decided). Today's Treasury auction of 25 billion dollars of 30-year bonds was well received. The FOMC announcement and the Powell press conference is set for Thursday afternoon, with the Fed widely expected to deliver a 25 bp rate cut, while Powell is likely to stress data dependency when it comes to policy decisions going forward.
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