Rate hopes bolster Wall Street as Amazon stock slides after bad numbers

new York Investors are returning to Wall Street in hopes of more cautious rate hikes from the Fed. However, bleak prospects from Amazon dampened her mood. The standard value index Dow Jones ended trading on Friday with a plus of 2.6 percent to 32,861 points. The tech-heavy Nasdaq rose 2.9 percent. The broad S&P 500 was up 2.5 percent.

Investors rated the data on consumer spending as positive. They rose surprisingly sharply by 0.6 percent. At the same time, the price index derived from this rose less than expected. “Anyone who believes that the Fed is about to turn around interest rates will not find anything in these numbers that will scare them,” said Matthew Tuttle, head of wealth manager Tuttle Capital. For the central bank meeting in the coming week, stockbrokers still expect the fourth interest rate hike in a row by 0.75 percentage points.

Investors said goodbye to already traded, lower-yielding government bonds. That pushed the yield on 10-year T-Bonds to 4.0102 percent.