All Three Major U.S. Equity Averages Post Gains
U.S. equities broadly advanced last week. Upward catalysts were the continued ramp-up in December Fed easing expectations coupled with mostly favorable quarterly earnings reports. Out of the 11 S&P 500 companies that reported earnings for the week, 10 of them surpassed both EPS and revenue expectations. At the 1 pm ET Friday market close Fed Funds futures were pricing in 82% odds for a quarter-point rate cut.
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