Wall Street gains on Fed's dovish signals
-Wall Street's main indexes advanced on Thursday, a day after the Federal Reserve left interest rates unchanged and signaled a dovish tilt, with focus moving to a crucial job report later in the week.
Money markets see a 59% chance of the first rate cut of at least 25 basis points being delivered in September, but have priced in a greater 70.8% chance of a cut in November, according to CME FedWatch tool. A separate reading showed new orders for U.S.-manufactured goods increased solidly in March, boosted by demand for commercial aircraft and motor vehicles, but gains elsewhere were moderate.
Of the 373 companies in the S&P 500 that have reported earnings this quarter, 77.2% have surpassed earnings estimates, compared with the historical average of 67%, according to LSEG data.rose 183.16 points, or 0.48%, to 38,086.45, the S&P 500 gained 23.07 points, or 0.46%, to 5,041.46, and theSeven of the 11 major S&P 500 sectors were trading higher, with information technology stocks up 1% and leading gains.Advancing issues outnumbered decliners for a 2.
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