The Dow jumped 664 points on Tuesday as markets shook off early losses, with traders positioning for a potential Federal Reserve rate cut in December. The S&P 500 and Nasdaq also finished higher after a mid-session dip. Rate-cut expectations strengthened following reports that Kevin Hassett — viewed as dovish and aligned with Trump’s low-rate stance — is the leading candidate for the next Fed chair. The White House may announce the nominee before Christmas, adding to market speculation.
Consumers soured on the current economy and their prospects for the future, with worries growing over the ability to find a job, according to a Conference Board survey released Tuesday.
The board’s Consumer Confidence Index for November slumped to 88.7, a drop of 6.8 points from the prior month for its lowest reading since April. Economists surveyed by Dow Jones were looking for a reading of 93.2.
SPI up 97 - FPH Results - CPI at 11.30am
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