S&P 500 surges to record high close on euphoria over Fed rate cut
==========
On September 19, 2024, the S&P 500 surged 1.70% to a record high close of 5,713.64 points following a 50 basis point interest rate cut by the Federal Reserve. The Dow Jones Industrial Average also reached a record high, closing above 42,000 for the first time at 42,025.19 points. Major stocks like Tesla, Apple, and Meta Platforms saw significant gains, with Tesla rising over 7%. The Nasdaq increased by 2.51% to 18,013.98 points. Fed Chair Jerome Powell expressed confidence in the economy, indicating potential future rate cuts. BofA Global Research revised its forecast to expect a total of 75 basis points in rate cuts by year-end. The small-cap Russell 2000 index rose 2.1%. Advancing stocks outnumbered declining ones by a 3.8-to-one ratio, with heavy trading volume of 12.3 billion shares.
#S&p500 #DowJones #FederalReserve #InterestRates #StockMarket #RecordHigh #Tesla #Apple #Nvidia #EconomicOutlook
https://www.nst.com.my/business/corporate/2024/09/1108040/sp-500-surges-record-high-close-euphoria-over-fed-rate-cut
New Straits Times /
npub1da…x087j
2024-09-20 01:02:51
Author Public Key
npub1da9xhqetht0hvcwa6g5ftpl58zs3zymrtf6t69rfw66hr2uk6gnq9x087jPublished at
2024-09-20 01:02:51Event JSON
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"content": "S\u0026P 500 surges to record high close on euphoria over Fed rate cut\n==========\n\nOn September 19, 2024, the S\u0026P 500 surged 1.70% to a record high close of 5,713.64 points following a 50 basis point interest rate cut by the Federal Reserve. The Dow Jones Industrial Average also reached a record high, closing above 42,000 for the first time at 42,025.19 points. Major stocks like Tesla, Apple, and Meta Platforms saw significant gains, with Tesla rising over 7%. The Nasdaq increased by 2.51% to 18,013.98 points. Fed Chair Jerome Powell expressed confidence in the economy, indicating potential future rate cuts. BofA Global Research revised its forecast to expect a total of 75 basis points in rate cuts by year-end. The small-cap Russell 2000 index rose 2.1%. Advancing stocks outnumbered declining ones by a 3.8-to-one ratio, with heavy trading volume of 12.3 billion shares.\n\n#S\u0026p500 #DowJones #FederalReserve #InterestRates #StockMarket #RecordHigh #Tesla #Apple #Nvidia #EconomicOutlook\n\nhttps://www.nst.com.my/business/corporate/2024/09/1108040/sp-500-surges-record-high-close-euphoria-over-fed-rate-cut",
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