A major stock market rally is coming on Friday.
And the Federal Bank of New York says it expects it to be a good one.
The stock market rose 1.4% to close at $2,974.09 on Friday, a new record high for the day.
The S&P 500 rose 1% to 3,569.80.
That’s the biggest gain in the S&s stock index since October.
It’s the best gain since January.
Ahead of the rally, the Fed has signaled it may raise interest rates at a later date.
It will decide this week whether to raise rates for the first time in six months or wait until March 2019 to begin raising them.
That would put it back into the red for the year.
The Federal Reserve has said it would keep interest rates low, but with inflation running at less than 2%, it’s unlikely to raise them.
A higher-than-expected rise in bond yields would likely hurt bond prices.
The Fed’s bond buying program is designed to keep the economy growing.
The Dow Jones Industrial Average is up 1,500 points, or 0.6%, to 24,924.56.
The Nasdaq is up 5,000 points, 0.4%, to 4,972.56 and the Russell 2000 is up 7,300 points, 1.2%, to 1,096.96.
With Friday’s gain, the Dow is up 4.5%.
The Nascent is up 11.3%.
The S&ams is up 10.4%.