{"id":37465,"date":"2023-11-29T15:02:17","date_gmt":"2023-11-29T15:02:17","guid":{"rendered":"https:\/\/isafespend.com\/investing\/us-stocks-trade-higher-us-gdp-impresses-feds-waller-flags-future-rate-cuts\/"},"modified":"2023-11-29T15:02:17","modified_gmt":"2023-11-29T15:02:17","slug":"us-stocks-trade-higher-us-gdp-impresses-feds-waller-flags-future-rate-cuts","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=37465","title":{"rendered":"US stocks trade higher; US GDP impresses, Fed’s Waller flags future rate cuts"},"content":{"rendered":"
\n
\n

\u00a9 Reuters <\/span>
\n<\/i>\n<\/div>\n

Investing.com — U.S. stocks rose Wednesday, after dovish comments from a top Federal Reserve official raised expectations that the U.S. central bank has ended its rate-hiking cycle.<\/p>\n

By 09:35 ET (14:35 GMT), the \u00a0rose 75 points, or 0.2%, the \u00a0traded 28 points, or 0.6%, higher and the \u00a0climbed 120 points, or 0.9%.<\/p>\n

Waller hints at future rate cuts<\/strong><\/h2>\n

Sentiment received a boost following comments from Federal Reserve Governor , who suggested on Tuesday that the U.S. central bank’s monetary policy is “well-positioned” to cool inflation.<\/p>\n

Waller, normally known as a hawkish voice at the Fed, added that should inflation continue to ease back down to the Fed’s 2% target for “several more months,” there is a chance that officials “could start lowering” interest rates.<\/p>\n

Headline inflation in the U.S. slowed by more than anticipated to 3.2% in October, and Thursday sees the release of the Fed\u2019s preferred inflation gauge, the personal consumption expenditures price index.<\/p>\n

This is expected to have risen just 0.1% on the month in November, a drop from 0.4% in September, while the core reading, which strips out food and fuel costs and is considered a better gauge of underlying inflation, is expected to have risen 3.5% on a year-over-year basis, a drop from 3.7% the prior month, and the lowest since mid-2021.\u00a0\u00a0<\/p>\n

Sentiment was also boosted by the news that the grew faster than initially thought in the third quarter, as gross domestic product increased at a 5.2% annualized rate last quarter, revised up from the previously reported 4.9% pace.<\/p>\n

<\/strong> Berkshire Hathaway <\/span><\/span><\/strong> in spotlight after Munger\u2019s death<\/strong><\/h2>\n

On the corporate front, General Motors (NYSE:)\u00a0stock soared 10% after the auto giant said it will buy back $10 billion in shares and boost its dividend by 33%.<\/p>\n

Dollar Tree (NASDAQ:) stock rose 5% after the retailer trimmed its full-year sales forecast but also\u00a0said it was reviewing its Family Dollar business.<\/p>\n

CrowdStrike Holdings (NASDAQ:) stock just under 5% as the cybersecurity firm forecast fourth-quarter revenue above expectations, driven by resilient demand for its cybersecurity offerings.<\/p>\n

Additionally, Berkshire Hathaway (NYSE:) is in the spotlight after the announcement of the death of Charlie Munger, vice chairman of the vast conglomerate, just short of his 100th birthday.<\/p>\n

Munger was known as the right-hand man of Berkshire’s head Warren Buffett, helping to turn Berkshire from a rundown textile manufacturer into an investment empire worth almost $800 billion.<\/p>\n

Oil gains in supply disruptions<\/strong><\/h2>\n

Oil prices surged Wednesday, boosted by more supply disruptions ahead of a crucial OPEC+ meeting to discuss future production levels.\u00a0<\/p>\n

By 09:35 ET, the futures traded 1.3% higher at $77.37 a barrel, while the contract traded 1% higher at $82.29 a barrel.\u00a0<\/p>\n

A severe storm in the Black Sea region has disrupted up to 2 million barrels per day of oil exports from Kazakhstan and Russia, fuelling concerns of short-term supply tightness.<\/p>\n

These worries, however, could be alleviated if the Organization of Petroleum Exporting Countries and allies, a group known as OPEC+, decides to announce deeper production cuts at its meeting on Thursday.<\/p>\n

Oil also found support from a drop in U.S. crude inventories, with industry body American Petroleum Institute estimating a fall of 817,000 barrels last week. Official data is scheduled for release later in the session.<\/p>\n

Additionally, edged 0.1% higher to $2,042.10\/oz, while traded 0.1% lower at 1.0986.<\/p>\n

(Oliver Gray contributed to this item.)<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters Investing.com — U.S. stocks rose Wednesday, after dovish comments from a top Federal Reserve official raised expectations that the U.S. central bank has ended its rate-hiking cycle. By 09:35 ET (14:35 GMT), the \u00a0rose 75 points, or 0.2%, the \u00a0traded 28 points, or 0.6%, higher and the \u00a0climbed 120 points, or 0.9%. Waller<\/p>\n","protected":false},"author":1,"featured_media":34083,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[32],"class_list":{"0":"post-37465","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing","8":"tag-featured"},"yoast_head":"\nUS stocks trade higher; US GDP impresses, Fed's Waller flags future rate cuts | iSafeSpend<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters Investing.com -- U.S. stocks rose Wednesday, after dovish comments from a top Federal Reserve official raised expectations that the U.S. central\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/isafespend.com\/?p=37465\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US stocks trade higher; 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