S&P 500, Nasdaq rebound as Treasury yields retreat; Ford rises
Worries over another interest rate hike in 2023 and prospects of a delay in the easing of monetary policy had knocked down the three main indexes by more than 1% on Thursday.
"I don't think that the markets have fully thought through the economic impact of higher rates," said Jason Pride, chief of investment strategy and research at Glenmede in Philadelphia. Traders' bets on the benchmark rate remaining unchanged in November and December stood at 73% and 58%, respectively, according to CME's FedWatch tool.
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