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The S&P 500 and Nasdaq eked out gains Wednesday, narrowly continuing Wall Street’s red-hot run of gains, as investors digested a fresh batch of corporate earnings amid a quiet week on the economic calendar.
The S&P 500 (^GSPC) closed up 0.1%, extending its winning streak to eight days, the longest for the benchmark index since 2021. The Nasdaq Composite (^IXIC) also rose around 0.1%, continuing its own streak for the ninth straight session. The Dow Jones Industrial Average (^DJI) came in around 0.1% lower.
Words of caution from several hawkish members of the Fed have put a check on optimism that interest rates have peaked, sapping momentum from the rally in stocks. But 90% of traders are sticking with their bet there won’t be a hike this year, and 25% expect a rate cut in March, according to the CME FedWatch tool.
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