{"id":104962,"date":"2024-08-22T00:50:06","date_gmt":"2024-08-21T20:50:06","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=104962"},"modified":"2024-08-22T00:51:15","modified_gmt":"2024-08-21T20:51:15","slug":"us-stocks-surge-on-renewed-rate-cut-hopes-after-fomc-minutes","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/us-stocks-surge-on-renewed-rate-cut-hopes-after-fomc-minutes\/08\/22\/market-updates\/","title":{"rendered":"US Stocks Surge on Renewed Rate Cut Hopes after FOMC Minutes"},"content":{"rendered":"\n<p>Wall Street closed modestly higher on Wednesday, with the S&amp;P 500 and Nasdaq gaining over 0.4% and 0.5% respectively. The Dow Jones Industrial Average saw smaller gains of 0.14%. Advancing stocks outnumbered declining ones on both the NYSE and Nasdaq. The S&amp;P 500 and Nasdaq set new 52-week highs, while trading volume remained below average. <br><br>Investor optimism grew after the release of the Federal Reserve&#8217;s July meeting minutes, which signaled a strong leaning towards a rate cut in September. This sentiment was further bolstered by a significant downward revision in payroll data, suggesting a softer labor market than previously thought. The upcoming Jackson Hole Economic Symposium, where Fed Chair Jerome Powell speaks, is also in focus.<br><br><strong>Winners and Losers:<br><\/strong><br>Target (TGT.N) surged 11.2% after raising its full-year profit forecast and reporting strong sales growth. TJX Companies (TJX.N) rose 6.1% after lifting its annual profit forecast. Macy&#8217;s (M.N) fell 12.9% after lowering its annual net sales forecast. JD.com (JD.N) dropped 4.2% after Walmart (WMT.N) sold its stake in the company. Ford Motor (F.N) climbed 1.6% following an announcement regarding its electric vehicle plans.<br><br><br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wall Street closed modestly higher on Wednesday, with the S&amp;P 500 and Nasdaq gaining over 0.4% and 0.5% respectively. The Dow Jones Industrial Average saw smaller gains of 0.14%. Advancing stocks outnumbered declining ones on both the NYSE and Nasdaq. The S&amp;P 500 and Nasdaq set new 52-week highs, while trading volume remained below average. &hellip;<\/p>\n","protected":false},"author":13,"featured_media":53440,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,36],"tags":[7770,11088,7587],"class_list":["post-104962","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-global-stock-markets","category-market-updates","tag-fomc-minutes","tag-rate-cut-hopes","tag-us-stocks"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/104962","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=104962"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/104962\/revisions"}],"predecessor-version":[{"id":104972,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/104962\/revisions\/104972"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/53440"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=104962"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=104962"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=104962"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}