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Rich Asplund

Stocks Settle Higher as Fed Rate Hike Concerns Ease

US Federal Reserve United States Nasdaq Lorie Logan Dallas Fed Dow Jones Industrial Average ECB G7 Group of Seven ON Semiconductor

The S&P 500 Index ($SPX) (SPY) closed up by +0.73% on Friday, the Dow Jones Industrial Average ($DOWI) (DIA) closed up by +0.49%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.00%. December E-mini S&P futures (ESZ26) rose +0.73%, and December E-mini Nasdaq futures (NQZ26) rose +1.01%.

Stock indexes settled higher on Friday, with the S&P 500 posting a 1-week high and the Nasdaq 100 posting a new all-time high. Stocks moved higher after weaker-than-expected US economic reports bolstered speculation that the Fed won’t be forced to raise interest rates this month. The Sep payrolls report showed that payrolls slowed sharply, and wage pressures were lower than expected. Also, Aug factory orders rose less than expected. In addition, Friday’s rally in chipmakers pushed the Nasdaq 100 to a new record high.

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