![]() ![]() The report indicated that ISM Manufacturing PMI remained unchanged at 46.7, while analysts expected that it would improve to 47.6. Today, traders also had a chance to take a look at ISM Manufacturing PMI report for November. Traders will continue to prepare for rate cuts in the first half of the next year. Fed Chair said that Fed would move carefully, and the markets believe that the central bank will not raise rates again. Powell also noted that the benchmark overnight interest rate was in the restrictive territory. Fed Chair noted that the risks of slowing the economy have become more balanced with the risks of not reaching a sufficiently restrictive level of interest rates. SP500 tests new highs as traders react to Powell’s comments. ![]()
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