Wall Street gains as traders raise bets on bigger Fed rate cut
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Boeing slips after US West Coast workers strike
Adobe tumbles after forecasting Q4 earnings below estimates
Indexes up: Dow 0.56%, S&P 500 0.37%, Nasdaq 0.31%
Updated at 10:03 a.m. ET/1403 GMT
By Shashwat Chauhan and Purvi Agarwal
Sept 13 (Reuters) -Wall Street's main indexes rose on Friday as investors reevaluated the possibility of a bigger interest rate cut by the Federal Reserve next week, while Photoshop maker Adobe tumbled after forecasting fourth-quarter earnings below estimates.
Traders' bets of a 50-basis point rate cut jumped overnight, now standing at 47% compared with 14% on Thursday, CME's FedWatch Tool showed.
Former New York Fed President Bill Dudley said there was a strong case for a 50-bps interest rate cut. Separate media reports calling the decision "a close call" also added to the uncertainty.
"A couple of articles were published in the Wall Street Journal and the Financial Times suggesting that a 50-bps move was still in play, which has led markets to once again reevaluate their expectations," Deutsche Bank analysts said.
Bets of the Fed sticking to a smaller 25-bps cut had firmed on Thursday following a slightly higher producer prices report that followed the August consumer prices data.
"Markets want the FOMC to ease fast and get on with the risk of recession fighting. The meeting is a risky event and it will remain so regardless of the 25 or 50 bps easing next week," said Bob Savage, head of markets strategy and insights at BNY Mellon.
All major U.S. benchmarks had closed higher in the previous session, boosted by rising megacap stocks, keeping them on track for weekly gains.
The Dow Jones Industrial Average .DJI rose 229.80 points, or 0.56%, to 41,326.57, the S&P 500 .SPX gained 21.06 points, or 0.37%, to 5,616.51, and the Nasdaq Composite .IXIC gained 54.40 points, or 0.31%, to 17,624.08.
The economically sensitive Russell 2000 small cap index .RUT was up 1.5%.
Ten of the 11 S&P 500 sectors inched higher, led by a 0.9% rise in materials stocks .SPLRCM that tracked an increase in the prices of precious metals.
The Philadelphia SE Semiconductor index .SOX rose 1.3% to levels last seen on Sept. 2, with most chip stocks trading higher.
Meanwhile, a preliminary reading of the University of Michigan's September consumer sentiment index stood at 69 compared with analysts' estimates of 68.5.
Among individual movers, Boeing BA.N fell 2.6% as its U.S. West Coast factory workers walked off the job early on Friday after overwhelmingly rejecting a contract deal.
Adobe ADBE.O slid 9% after forecasting fourth-quarter earnings below analysts' estimates, while Oracle ORCL.N jumped 2.7% after the cloud computing company raised its fiscal 2026 revenue outlook.
Chinese e-commerce firm PDD Holdings PDD.O dropped 2.4% after the Biden administration said it was moving to curb low-value shipments entering the U.S. duty-free under the $800 "de minimis" threshold.
Uber UBER.N gained 5.7% after the ride-hailing platform said it would bring autonomous ride hailing to Austin, Texas, and Atlanta, in partnership with Alphabet's Waymo.
Advancing issues outnumbered decliners for a 6.86-to-1 ratio on the NYSE and a 3.44-to-1 ratio on the Nasdaq.
The S&P 500 posted 45 new 52-week highs and no new low, while the Nasdaq Composite recorded 66 new highs and 27 new lows.
Most S&P 500 sectors headed for weekly gains https://tmsnrt.rs/4d20XQR
Reporting by Shashwat Chauhan and Purvi Agarwal in Bengaluru; Editing by Shounak Dasgupta
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Penafian: Entiti XM Group menyediakan perkhidmatan pelaksanaan sahaja dan akses ke Kemudahan Dagangan Atas Talian, yang membolehkan sesorang melihat dan/atau menggunakan kandungan yang ada di dalam atau melalui laman web, tidak bertujuan untuk mengubah atau memperluas, juga tidak mengubah atau mengembangkannya. Akses dan penggunaan tersebut tertakluk kepada: (i) Terma dan Syarat; (ii) Amaran Risiko; dan Penafian Penuh. Oleh itu, kandungan sedemikian disediakan tidak lebih dari sekadar maklumat umum. Terutamanya, perlu diketahui bahawa kandungan Kemudahan Dagangan Atas Talian bukan permintaan, atau tawaran untuk melakukan transaksi dalam pasaran kewangan. Berdagang dalam mana-mana pasaran kewangan melibatkan tahap risiko yang besar terhadap modal anda.
Semua bahan yang diterbitkan di Kemudahan Dagangan Atas Talian kami bertujuan hanya untuk tujuan pendidikan/maklumat dan tidak mengandungi – dan tidak boleh dianggap mengandungi nasihat kewangan, cukai pelaburan atau dagangan dan cadangan, atau rekod harga dagangan kami, atau tawaran, atau permintaan untuk suatu transaksi dalam sebarang instrumen kewangan atau promosi kewangan yang tidak diminta kepada anda.
Sebarang kandungan pihak ketiga serta kandungan yang disediakan oleh XM, seperti pendapat, berita, penyelidikan, analisis, harga, maklumat lain atau pautan ke laman web pihak ketiga yang terdapat dalam laman web ini disediakan berdasarkan "seadanya" sebagai ulasan pasaran umum dan bukanlah nasihat pelaburan. Sesuai dengan apa-apa kandungan yang ditafsir sebagai penyelidikan pelaburan, anda mestilah ambil perhatian dan menerima bahawa kandungan tersebut tidak bertujuan dan tidak sediakan berdasarkan keperluan undang-undang yang direka untuk mempromosikan penyelidikan pelaburan bebas dan oleh itu, ia dianggap sebagai komunikasi pemasaran di bawah peraturan dan undang-undang yang berkaitan. SIla pastikan bahawa anda telah membaca dan memahami Notifikasi mengenai Penyelidikan Pelaburan Bukan Bebas dan Amaran Risiko mengenai maklumat di atas yang boleh diakses di sini.
