Rate cut hopes buoy US stocks ahead of uncertain 2024

Trends that had worried investors throughout 2023, such as the climbing dollar and elevated US Treasury yields, are reversing, while the market’s most closely watched fear gauge stands near post-pandemic lows. — Reuters

HOPES that an economic soft landing will lead the Federal Reserve (Fed) to pull back on interest rates have ignited Wall Street’s appetite for stocks, despite concerns of slowing growth and the potential of an inflationary rebound in 2024.

The S&P 500 is up about 9% in November, on track for its biggest monthly gain since July 2022.