Posted 12/15/2023, 1:14:29 AM
Stocks Edge Up After Pullback from Rally, But Gains Could Continue with Trillions in Money Funds Still on Sidelines
- Stocks edged higher Thursday after a shaky session following substantial previous day gains; a pullback was expected after the recent rally
- $6 trillion in money market funds could fuel further stock gains, keeping shorts wary
- Major indexes posted weekly gains, with the Dow reaching another record high
- Falling bond yields reflect Fed signaling potential 2024 rate cuts, supporting pivot expectations
- Oil has rallied on dollar weakness as other central banks push back on market rate pricing