Posted 12/11/2023, 4:19:05 AM
Stocks Edge Up as Investors Await Fed Meeting, Macy's Surges on Buyout Bid
- Stocks drifted higher ahead of the Fed's final policy meeting of the year, with the S&P 500 up slightly and the Dow rising 87 points
- Macy's stock jumped 16% on reports of a potential $5.8 billion takeover bid to take the company private
- This week's economic data on inflation will be closely watched, along with the Fed's latest interest rate decision on Wednesday
- Analysts expect the Fed to hold rates steady, while signs point to inflation continuing to ease from 40-year highs
- Corporate earnings reports have largely beat expectations, marking an end to 3 straight quarters of profit declines