US stocks surge as investors prepare for the Fed to slow the pace of rate hikes

• US stocks surged on Tuesday as investors prepare for a possible December slowdown in Fed interest rate hikes.
• Market consensus currently expects a rate hike of just 50 basis points at the December meeting.
• Mixed retail earnings showed pockets of strength in the consumer and broader US economy.

US stocks surged on Tuesday as investors prepare for a potential slowdown in interest rate hikes from the Federal Reserve.

Current market consensus expects a rate hike of just 50 basis points at the December Fed meeting, according to the $4 with an assigned 75% probability. Backing that view up is Fed president Loretta Mester, who said in a Monday interview that $4 at the upcoming FOMC meeting compared to the central bank's run of four consecutive 75 basis-point rate hikes.

This year's drastic interest rate increases have yet to slow down the consumer, based on solid earnings reports from retailers on Tuesday. Both $4 and $4 reported better-than-expected results and raised their full-year outlook. Both stocks surged about 10% in Tuesday trades.

Here's where US indexes stood at the 4:00 p.m. ET close on Tuesday:

• S&P 500>$4: 4,003.58, up 1.36%
• Dow Jones Industrial Average>$4: 34,098.10, up 1.18% (397.82 points)
• Nasdaq Composite>$4: 11,174.41, up1.36%

Here's what else is happening this morning:

• Crypto brokerage $4 protection if it fails to raise fresh funding for its lending unit.
• $4 from its peak a year ago — more than the individual market value of all but a handful of America's public companies.
• $4 as individual investors piled into meme stocks and still holds a significant position in the video-game retailer.
• $4 and underscored the difficulty of revitalizing the video-game retailer in a recent interview.
• Shares of $4 after Sky News said the UK soccer club may be put up for sale by the family that's owned the team for 17 years.
• Lawyers for FTX said during the $4 that they expect "millions" of creditors, signaling that its collapse has a much wider scope than initially thought.

In commodities, bonds and crypto:

• $4 oil jumped 1.35% to $81.12 per barrel. $4, oil's international benchmark, rose 1.15% to $88.46.
• $4 was up just .02% to $1,739.90 per ounce.
• The yield on the 10-year Treasury fell six basis points to 3.77%.
• Bitcoin rose 2.13% to $16,134, while ether jumped 2.45% to $1,126.