Hopes for an economic soft landing and potential Fed rate cuts drive a 9% increase in the S&P 500, with investors anticipating rate easing in the first half of 2024. Wall Street's cautious optimism follows the latest Fed comments, expressing skepticism about inflation decreasing to 2% and hinting at lower interest rates. Global equities gain slightly while Treasury yields fall as third-quarter data shows encouraging signs for the economy, with mixed messages from the U.S. Federal Reserve officials on monetary policy, and oil prices rising due to supply disruption.

Economic Optimism and Rate Cut Hopes