Wall Street indexes notch record high closes, investors bet rate cut

The S&P 500, Financial markets have priced in a 25 basis point cut at the Fed's policy meeting next week, and futures trading suggests a nearly 10% chance of a 50 basis point cut, according to CME's FedWatch tool. Recent nonfarm payroll data for July and August also pointed to weakening labor market conditions. "This does nothing to dissuade the Fed from moving 25 basis points," said Paul Nolte, a market strategist at Murphy & Sylvest in Chicago, about the payrolls revision. "We don't know month by month ...