Wall Street had another big day with the Dow and S&P 500 hitting another intraday record high, just a day after the Federal Reserve cut interest rates by half-a-percentage point and forecasted that more cuts could be coming.
Wall Street rallied on Thursday with the S&P 500 hitting another intraday record high after the Federal Reserve kicked off its easing cycle with half-a-percentage point reduction.
Wall Street’s main indexes were flat as investors stepped onto the sidelines ahead of the Federal Reserve’s highly anticipated first interest rate cut in more than four years.
Inflation rose once again in the month of August, causing stir from an outsize rate cut from the Federal Reserve when it meets next week.
Investors used to Nvidia’s blockbuster results will be expecting even more from the artificial intelligence chip giant.
Wall Street’s stock indexes increased substantially on Friday, with the S&P 500 index climbing towards a record high, after Federal Reserve Chair Jerome Powell said “the time has come” to reduce interest rates.
U.S. job expansion over the 12 months ending in March was overestimated by a staggering 818,000 on Wednesday, which is a worrisome sign that the economy has continued to slow down.
The Dow jumped over 500 points and the Nasdaq increased 2% on Thursday as retail sales data indicated resilient consumer spending, somewhat calming fears of a possible recession.
Global stocks held steady and government bond yields retreated a touch on Wednesday after data showed U.S. consumer prices rose moderately in July.
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.