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Dec 6 - The S&P 500 and the Nasdaq hit intraday record highs on Friday as traders increased bets on a Federal Reserve rate cut this month following robust November nonfarm payrolls data, while a drop in UnitedHealth shares weighed on the Dow.
Brokerages including Morgan Stanley are reiterating their expectation of a 25-basis-point interest rate cut by the Fed following the employment data. Federal Reserve policymakers will enter a media blackout that kicks in on Saturday, in the run-up to the central bank's Dec. 17-18 policy meeting. U.S. President-elect Donald Trump's win in the Nov. 5 election provided further impetus. Analysts expect his tax-cut policies and looser regulations will support corporate performance.
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