Key Points
NEW YORK (Reuters) U.S. stocks extended their rally and benchmark Treasury yields dropped to their lowest since July on Thursday as signals from the U.S. Federal Reserve that the tightening cycle has ended and rate cuts can be expected in 2024 continued to fuel investor euphoria...
The dollar hit a four-month low and all three major U.S. stock indexes were in positive territory the day after the Feds much anticipated policy decision...
Yesterdays move was obviously in reaction to Powell coming out significantly less hawkish than people had anticipated, Michael Green, chief strategist at Simplify Asset Management in New York..
That pivot was enough to send the blue-chip Dow to an all time closing high, suggesting the blue-chip average entered a bull market in September 2022 and putting the three major indexes on course for their seventh straight week of gains...
The Dow Jones Industrial Average rose 72.28 points, or 0.19%, to 37,162.52, the S&P 500 gained 13.51 points, or 0.29%, to 4,720.6 and the Nasdaq Composite added 29.37 points, or 0.2%, to 14,763.34...
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