Back-to-Back Weekly Gains
U.S. equities fractionally advanced last week after a tame PCE inflation report helped reinforce expectations that Fed policymakers will cut interest rates. The S&P 500 capped the week with a four-day winning streak, interrupted by just one negative day in the past 10 trading sessions. Wall Street is pricing in 89% odds for a quarter-point rate cut on Wednesday, December 10, up from 82% odds from a week ago.
The Weekly Recap is published by Cetera Investment Management LLC, an SEC registered adviser owned by Cetera Financial Group. Cetera Investment Management provides market perspectives, portfolio guidance, model management, and other investment advice to its affiliated broker-dealers, dually registered broker-dealers and registered investment advisers.