Taken from CNBC’s Daily Open, our international markets newsletter — Subscribe today
U.S. markets may have had a rocky start in December, but there seems to be some steam in the trading engine for a turnaround from a tumultuous November.
Bitcoin recovered part of its recent slide and tech names rallied Tuesday stateside, giving stocks a recovery from a pullback in the previous session that snapped a five-day winning streak. The rebound suggested investor appetite to take on market risk hasn’t vanished; it just needed a moment to catch its breath.
Other indicators point to lingering confidence in a year-end rally.
Investors are pricing in an 89.2% chance of a quarter percentage point rate cut at the U.S. Federal Reserve’s upcoming meeting on Dec. 10, according to the CME FedWatch Tool. That expectation has climbed sharply from a month ago, when the odds were closer to a coin toss.
