Wall St gains ahead of Fed officials' remarks; Dow nears 40,000 mark
- U.S. stocks rose on Friday, as investors eagerly awaited comments from Federal Reserve officials to get more clarity on the U.S. monetary policy path, after economic data this week supported bets of interest rate cuts.
Traders are currently pricing in 45 basis points of rate cuts by the end of 2024, according to LSEG's rate probabilities tool, with the first cut of 25 bps seen in September. Speeches from a host of Fed policymakers — Minneapolis President Neel Kashkari, Dallas President Lorie Logan and Vice Chair for Supervision Michael Barr — during the day, could offer more clues on the rate path.
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