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Federal Reserve Governor Christopher Waller said he would support holding rates steady if upcoming inflation data is supportive
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U.S. stocks climbed Thursday as investors grew hopeful the Federal Reserve would leave interest rates unchanged at its next meeting, following remarks from Federal Reserve Governor Christopher Waller. The Dow Jones Industrial Average advanced 635 points, or 1.2%, according to CNBC, which noted the move would mark the index's strongest single-session performance since Aug. 4. The S&P 500 added 1% and the Nasdaq $NDAQ Composite climbed 1.3%.
The rally came after Federal Reserve Governor Christopher Waller said he would be inclined to support holding interest rates steady, so long as upcoming inflation data did not produce surprises. The 10-year Treasury yield fell to around 4.75% after his remarks, pulling back from its highest level since November 2023, which it had reached the day before.
