Stock Market Overview
Thu, Sep 19th, 2024
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S&P 500 and Dow Jones Industrials Rally to Record Highs on Soft-Landing Hopes
Barchart - Thu Sep 19, 10:14AM CDT
The S&P 500 Index ($SPX) (SPY) today is up by +1.56%, the Dow Jones Industrials Index ($DOWI) (DIA) is up by +0.95%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up by +2.60%.
Stocks today are sharply higher, with the S&P 500 and Dow Jones Industrials posting new all-time highs and the Nasdaq 100 climbing to a 4-week high. Stocks have rallied worldwide today after the Fed cut interest rates by an aggressive -50 bp on Wednesday. The Fed’s -50 bp rate cut and projections for another -50 bp of rate cuts this year have bolstered speculation the Fed will engineer a soft landing and sparked risk-on sentiment for asset markets. Stocks maintained their gains today despite an increase in bond yields after US weekly initial unemployment claims fell more than expected to a 4-month low, a hawkish factor for Fed policy.
US weekly initial unemployment claims fell -12,000 to a 4-month low of 219,000, showing a stronger labor market than expectations of 230,000.
The US Aug Philadel... Read more
Wall Street soars to records as Dow leaps 500 in a rate-cut rally that swept the world
AP - 6 minutes ago
Wall Street romped to records as a delayed jubilation swept markets worldwide following the Federal Reserve’s big cut to interest rates
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Zacks Investment Research - 8 minutes ago
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Barchart - 8 minutes ago
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AP - 10 minutes ago
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AP - 13 minutes ago
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Follow Warren Buffett With These Stocks and ETFs
Zacks Investment Research - 24 minutes ago
Billionaire investor Warren Buffett — the Oracle of Omaha — is known for his value investing style. Many want to mirror the legend’s investing strategy and emerge a winner, having navigated the turbulent...
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