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[Markets] US STOCKS-Wall St gains on hopes of smaller rate hikes as economy shrinks again Wall Street's major indexes reversed course to gain in early afternoon trading on Thursday, as a contraction in the U.S. economy for the second straight quarter raised expectations of a less aggressive monetary policy by the Federal Reserve. "The Fed will likely interpret this decline in real growth as confirmation to slow down the pace of rate hikes at the upcoming meetings," Jeffrey Roach, chief economist for LPL Financial said. Market participants believe that even if the U.S. economy entered a recession, its effects would be mild. Published:7/28/2022 12:36:49 PM
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