Stock Market Overview
Thu, Sep 19th, 2024
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Stocks Finish Sharply Higher as Aggressive Fed Rate Cuts Bolster Economic Optimism
Barchart - Thu Sep 19, 3:34PM CDT
The S&P 500 Index ($SPX) (SPY) Thursday closed up by +1.70%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up by +1.26%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up by +2.56%.
Stocks on Thursday rallied sharply, with the S&P 500 and Dow Jones Industrials posting new all-time highs and the Nasdaq 100 climbing to a 2-month. Stocks rallied worldwide Thursday 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 Thursday 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... Read more
Quiver Morning Markets Wrap: Fed Rate Cut Drives S&P 500 to Record High
Quiver Quantitative, Inc. - 47 minutes ago
The S&P 500 (SPY) surged to a new all-time high, driven by optimism that the Federal Reserve's aggressive rate cuts will successfully guide the U.S. economy toward a soft landing. The benchmark index rose...
How Surging AI Demand Could Drive This Dividend Stock Higher
Barchart - Thu Sep 19, 6:30PM CDT
Eaton, a diversified power management company, is poised to benefit from the surging demand for AI-driven data centers, with its innovative power solutions and strong dividend growth making it an attractive...
Markets Celebrate Loosening Interest Rate Cycle
Zacks Investment Research - Thu Sep 19, 6:18PM CDT
Thursday, September 19th, 2024Markets celebrated the Fed’s loosening of interest rates yesterday with a big swell in valuations across the board today. Investors had concerned themselves that a 50 basis-point...
Nike names Elliott Hill as CEO, replacing John Donahoe
AP - Thu Sep 19, 6:18PM CDT
Nike Inc. has named Elliott Hill as its president and CEO effective, replacing John Donahoe, who will retire next month
3 Top Large Cap Stocks for a Stable Approach: ETN, DECK, UNH
Zacks Investment Research - Thu Sep 19, 6:02PM CDT
Large-cap stocks are present in almost every portfolio. They carry a well-established nature, have greater analyst coverage, and commonly pay dividends, all of which make them so popular.Of course, their...
Grab This Gold Stock While It's Cheap
Barchart - Thu Sep 19, 5:48PM CDT
With gold in focus after the latest Fed rate cut, here's a look at one mining stock that could be undervalued.
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