Fed Comments Boost Software Stocks, But Jobs Report Dampens Enthusiasm

Federal Reserve officials comments sparked a significant afternoon jump in stocks, boosting hopes for a December interest rate cut. This led to a fall in Treasury yields, benefiting growth-oriented sectors like software. Several software companies saw their stock prices rise, but the markets initial enthusiasm faded due to a stronger-than-expected jobs report. Investors shifted towards more stable, defensive stocks, as seen with Walmarts six percent gain.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.