S&P 500 rises as Fed Governor Waller backs rate hold
Stocks gained and global bond yields retreated after Fed Governor Christopher Waller said he would support holding interest rates steady if August inflation data supports it. The rally was broad across S&P 500 sectors.
Stocks are advancing and global bond yields are easing after Fed Governor Christopher Waller said he would support leaving interest rates unchanged if August inflation data backs that view. The move is broad, with all but one S&P 500 sector trading higher. Consumer stocks are leading the gains.