Wall Street Ends Higher As Economic Data Fuels Rate-Pause Bets

<p>The S&#38;P 500 (.SPX) and Nasdaq (.IXIC) closed higher on Wednesday as fresh economic data signaled a cooling U.S. economy, reinforcing expectations the Federal Reserve will pause rate hikes in September. The S&#38;P 500 index reached its highest in nearly three weeks after an ADP National Employment report showed private payrolls increased by 177,000 jobs in August, compared with estimates of 195,000, suggesting a softening labor market. Fresh gross domestic product numbers showed the U.S. economy expanded 2.1% in the second quarter, slower than a preliminary estimate of a 2.4% growth. &#8220;Somewhat softer employment data is easing investor concerns for future Federal Reserve interest rate hikes,&#8221; said Rob [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://vladimirribakov.com/wall-street-ends-higher-as-economic-data-fuels-rate-pause-bets/">Wall Street Ends Higher As Economic Data Fuels Rate-Pause Bets</a> appeared first on <a rel="nofollow" href="https://vladimirribakov.com">Vladimir Ribakov</a>.</p>