Dow closes 800 points higher after a historic one-day turnaround

I checked SPY on Friday, and it was down, but if I would’ve checked Dow maybe I could’ve seen this change coming and made some moves.

With a recent high inflation report, investors may believe it’s close to the peak so it might start coming down soon which means the Federal Reserve will stop rate hikes soon.

This may also be because of gains in energy and bank stocks.

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Are job cuts good for a company? I’m assuming yes since they help cut costs.

Why is the stock market going up?

• Fed Meeting: Nov 1-2
  • Fed will most likely raise interests by three quarters (not surprising)
• US Treasury: 4.12%
• Yield Curve: Downward slope
• Inflation Rate: 8.20%
• Mortgage Rates: 5.5%-7.5%
• Unemployment Rate: 3.5%
• Oil price: $84.81
• SPY: $372
• VIX: 29.88
• Earnings season: yes

Dow jumps more than 600 points as bond yields fall after reports Fed may shift to smaller rate hikes after November