The Federal Reserve kept rates unchanged at its March meeting, but new forecasts confirmed plans for three 25-basis-point rate cuts this year, boosting Wall Street optimism. Fed Chair Jerome Powell hinted that rate cuts will occur if the economy evolves as expected. He downplayed the unexpected inflation surges in January and February, pushing the market to anticipate a 72% chance...

04:31 PM EDT, 03/22/2024 (MT Newswires) -- US equity indexes ended the week higher as government bond yields fell after investors interpreted the Federal Reserve's move to raise its forecast for inflation while maintaining the outlook for rate cuts this year as dovish. * The Dow Jones Industrial Average closed Friday at 39,475.90, up from 38,714.77 a week earlier. The...

04:32 PM EDT, 03/22/2024 (MT Newswires) -- The Nasdaq Composite extended its record-high closing run Friday, while the Dow Jones Industrial Average and the S&P 500 retreated from their respective all-time high levels. The technology-heavy Nasdaq rose 0.2% to 16,428.8, surpassing its previous record closing level set Thursday. The Dow fell 0.8% to 39,475.9, while the S&P 500 lost 0.1%...

04:15 PM EDT, 03/22/2024 (MT Newswires) -- US equity markets ended mixed Friday as the Dow dropped 300 points after approaching 40,000 but remained on track for its best week of the year. * Federal Reserve Chair Jerome Powell said that the Fed should pay attention to ground-level conditions as well as national-level macroeconomic data. Powell and his Fed colleagues...