The Daily Money: Good news for your 401(k)?

Good morning! Happy Monday! It's Daniel de Visé with your Daily Money.

The stock market has seemed to follow a crude pattern in recent months: Each time the Fed predicts more interest rate cuts than expected, the market soars.

The dynamic played out again last week when the Federal Reserve stuck to its forecast of three rate cuts this year, despite lingering inflation, Paul Davidson reports. The S&P 500 index has jumped 1.1% since the Fed announcement.

Turns out the market is responding to more than the Fed.

What does all this mean for your 401(k)?

Coming soon to Wall Street: DJT, PDQ

Donald Trump’s name can be found on hotels, at golf resorts and even on NFT trading cards. Soon, it’ll be on the stock market, too. 

The parent company of Truth Social, the social media platform the former president launched after getting booted from Facebook and X after the Jan. 6 Capitol attack, could start trading on the stock market within days, Bailey Schulz reports.

The ticker symbol the new company plans to use? DJT, for Donald J. Trump. 

What will the famous brand mean for the stock price?

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About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.

Daniel de Visé covers personal finance for USA Today.