U.S. stocks rose as investors stepped up bets on a strengthening U.S. economy. Financial shares and Treasury yields climbed anew after data on housing, employment and inflation – as well as comments from Federal Reserve Chairwoman Janet Yellen – bolstered expectations that the central bank will raise interest rates next month. Since last week, investors have been pouring money into bank shares and pulling money out of government bonds, with many expecting Donald Trump's election would mean a more expansive fiscal policy, higher inflation and ultimately higher U.S. interest rates. Those trades picked up again after stalling Wednesday, when financial shares in the S&P 500 and 10-year U.S. Treasury yields fell for the first time since Nov. 4. Expectations for an interest-rate increase in December have grown in recent sessions. Fed funds futures showed a roughly 91% chance of a rate rise at the Fed's meeting Dec. 13-14, according to CME Group.
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