US EditionDow Crosses 46,000: Stocks Hit Record Highs as Wall Street Embraces Fed Rate Cut Hopes
August inflation data showed cooler producer prices and steady consumer prices, prompting analysts to expect a quarter point Federal Reserve rate cut in the upcoming meeting.
- On Thursday, all three major U.S. stock indexes closed at record highs, led by the Dow crossing 46,000 points for the first time in New York.
- Investors responded to August inflation data showing consumer prices ticked up but remained in line with expectations, supporting the Federal Reserve's anticipated rate cut next week.
- Markets showed robust gains including a 29% surge in Warner Bros. Discovery shares amid reports of a bid by Paramount Skydance, while Treasury yields fell as the 10-year note dropped below 4%.
- Market participants assigned a 93% probability to the Federal Reserve lowering its benchmark interest rate by 0.25% at the upcoming September meeting, with Moody's Chief Credit Officer Atsi Sheth anticipating this modest reduction in light of slowing employment growth and ongoing inflation pressures.
- This market rally and solid inflation data suggest expectations for multiple Fed rate cuts later this year, with forecasts predicting recalibrated rates near neutral by year's end.
42 Articles
42 Articles
Asian shares track Wall Street rallies as a US interest rate cut next week looks more certain
Asian shares rose on Friday, tracking Wall Street's record-setting run the previous day after a mixed set of U.S. data bolstered expectations that the Federal Reserve will cut interest rates to boost the economy.Japan's Nikkei 225 set another intra-day high, rising for the third day and adding 0.9% to 44,780.29. Shares in semiconductor company Tokyo Electron, Sony Group and Fast Retailing were among the movers.In Chinese markets, Hong Kong’s Han…
Wall Street Indexes Post Record-High Closes
Wall Street's main indexes notched record-high closes Thursday following gains in Tesla and Micron Technology, while U.S. inflation and jobless data fueled expectations that the Federal Reserve will cut interest rates this month.
Washington, United States. The New York Stock Exchange closed on Thursday with new records, following economic data that strengthened investors’ perspective that the Federal Reserve (Fed) will cut benchmark rates at its next meeting. Wall Street's three main indices reached new peaks: the Dow Jones advanced 1.36% to 46.108.00 points, Nasdaq rose 0.72% and closed at 22.043.07 points, while the S&P 500 index climbed 0.85% to 6,587.47 points.“The m…
Wall Street Soars Amid Fed Rate Cut Speculation and Tech Gains
Wall Street Soars Amid Fed Rate Cut Speculation and Tech Gains Wall Street's key indexes marked record-high closes on Thursday, driven by Tesla and Micron Technology gains, alongside expectations of a Federal Reserve rate cut following U.S. inflation data. Consumer prices surged more than anticipated in August, with the largest annual inflation jump in seven months. Initial jobless claims also climbed, reaching a near four-year peak.Atsi Sheth, …
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