Posted 3/7/2024, 4:01:44 PM
Stocks Soar to Record Highs as Traders Bet on Fed, ECB Rate Cuts
- Stocks hit all-time highs as investors bet on imminent rate cuts from the Fed and ECB
- Powell said the Fed is "not far" from confidence to ease policy and could cut rates this year
- Lagarde indicated the ECB may be ready to ease policy as soon as June amid slowing inflation
- Traders boosted bets on ECB rate cuts, now seeing a full percentage point of reductions in 2024
- Jobs report on Friday expected to show labor market resilience though some moderation in hiring and wages