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Optimism abounds | A rally that added over $1.3 trillion to the S&P 500 this week powered ahead as the latest economic data did little to alter bets on a series of Federal Reserve rate cuts. Every major group in the US equity gauge rose Thursday, while Treasuries saw small moves. Swap contracts priced in slightly higher odds of a half-point Fed reduction next week after a Wall Street Journal report said policymakers were considering cutting by 25 or 50 basis points. German bunds snapped a seven-day winning streak after the European Central Bank's Christine Lagarde said rates would be sufficiently restrictive after an expected quarter-point interest rate cut.
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