Wall St Week Ahead: Robust US data throws off Fed cut narrative

Market expectations of a near-term rate cut dimmed after the jobs data.

NEW YORK: Robust US economic data is confronting investors with an unexpected question: whether strong growth can keep driving stocks higher even if the Federal Reserve delivers less monetary-policy easing than the market had hoped.

Expectations that the Fed would pivot to cutting rates sent stocks soaring at the end of 2023 and pushed the S&P 500 to a record high in January. The index is up 4% this year after surging 24% in 2023.