Stock market today: Wall Street holds steadier after last week's bumpy ride
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U.S. stocks are holding steadier after a roller-coaster end to last week left them a bit shy of their records. The S&P 500 was virtually unchanged in early trading, coming off a stretch where a 1.2% drop immediately flipped to a 1.1% gain. The Dow Jones Industrial Average was up 51 points, or 0.1%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was basically flat. The focus has been on interest rates and when the Federal Reserve will lower them to ease pressure on the economy and financial system. This upcoming week has several flashpoints that could further swing expectations. Fed Chair Jerome Powell has said recently he still expects cuts to interest rates this year, but the central bank first needs additional confirmation inflation is heading toward its target of 2%. Traders now see roughly a coin flip’s chance of the Fed cutting interest rates at its meeting in June, down from a better than 70% probability a month ago. Cuts to interest rates not only make borrowing easier for U.S. households and companies, they also encourage investors to pay higher prices for stocks and other investments. Stock prices have already leaped in part on such expectations. Critics say stock prices already look expensive given their huge run of more than 20% from November into March. This week will bring the start of the latest earnings reporting season. Delta Air Lines, JPMorgan Chase and other banks will headline the earliest days of the reporting period, and analysts are expecting companies across the S&P 500 to deliver a third straight quarter of growth from the prior year.

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https://apnews.com/article/stock-markets-inflation-earnings-812eda3ed641e66e438a6d59944ea43f