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Wall Street jumps on hopes of smaller Fed rate hikes, reverses decline

Traders are still widely expecting a fourth 75-basis-point hike at the central bank's November meeting

Wall Street, US stocks
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Reuters
U.S. stock indexes jumped on Friday after a report said the Federal Reserve will likely debate on signaling plans for a smaller interest rate hike in December, reversing declines set off by social media firms after Snap Inc's ad warning.
 
Some Fed officials have begun sounding out their desire to slow down the pace of increases soon, according to the Wall Street Journal, and how to signal plans to approve a smaller increase in December.
 
"The hopes that the Fed may temper or take the foot off the gas pedal slightly is helping the market," said Andre Bakhos, managing member

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First Published: Oct 21 2022 | 8:22 PM IST

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