Whalesbook
Wall Street indices rallied for a third consecutive day, driven by strong optimism for a Federal Reserve interest rate cut in two weeks. The Dow Jones recovered significantly, adding 1,360 points over three sessions. Positive macroeconomic data, including in-line Producer Price Inflation and weaker retail sales, further fueled expectations of a rate cut, with CME FedWatch indicating an 85% probability for a December reduction. Speculation about Kevin Hassett as the potential next Fed Chair, known for his dovish stance, also boosted market sentiment.