S&P 500 Rises on Rate Cut Hopes, Oil Wavers Amid Cease-Fire

By Bill Bullington

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5/6, 16:05 EDT

The S&P 500 extended its rally for a third consecutive day, leveraging the positive momentum from the latest employment report, which hinted at potential Fed rate cuts in response to softer figures.
Oil prices retreated slightly after an initial increase, following news that Hamas accepted a cease-fire proposal for Gaza. However, Israel later expressed dissatisfaction with the plan, leading to market uncertainty.