S&P 500, Dow touch over one-week highs after business activity data
The S&P 500 and the Dow touched over one-week highs after data showed a still robust economy, while small-cap stocks outperformed large-cap indexes.
The S&P 500 and the Dow touched over one-week highs after data showed a still robust economy, while small-cap stocks outperformed large-cap indexes.
Wall Street’s main indexes capped off a tumultuous week where global markets were rattled and fears of a recession in the world’s biggest economy.
While maintaining interest rates at their highest point in over 20 years on Wednesday, the Federal Reserve made a suggestion that lower borrowing costs may soon be implemented by policymakers due to slight recent improvements in inflation.
Some megacap growth stocks edged higher in early trading, with Meta Platforms, Amazon.com and Apple up between 0.6% and 1.5%.
The U.S. economy witnessed a hefty increase of 336,000 new jobs last month, marking the strongest job growth since January, according to the latest report by the Bureau of Labor Statistics.