Wall Street’s main indexes were largely flat in early trading today as investors took a breather from the week’s rally driven by growing expectations of US interest-rate cuts this year. — AFP picNEW YORK, May 17 — Wall Street’s main indexes were largely flat in early trading today as investors took a breather from the week’s rally driven by growing expectations of US interest-rate cuts this year.
“People are now looking at the next catalyst. Most likely it’s going to be whether or not the Fed actually cuts. So you got PCE coming up, and if that’s below expectations then probably see the market continue to trend higher.” At 09.40am ET, the Dow Jones Industrial Average rose 0.10 points to 39,869.48, the S&P 500 gained 1.27 points, or 0.02 per cent, to 5,298.37 and the Nasdaq Composite gained 10.58 points, or 0.06 per cent, to 16,708.90.