US stocks soared, with the Dow Jones Industrial Average closing above the 42,000 level for the first time amid growing optimism that the Federal Reserve's jumbo interest rate cut will deliver a "soft landing" for the US economy. The S&P 500 climbed roughly 1.7%, while the Dow rose more than 1.2%, with both indexes trading at record highs. The tech-heavy Nasdaq Composite led the gains, up roughly 2.5%.
Bank of America now believes the Fed will go on to cut rates by 0.75% by the end of the year, versus the 0.50% it previously forecast. By comparison, the central bank's own "dot plot" indicates policymakers expect a half-percentage-point reduction. Read more: What the Fed rate cut means for bank accounts, CDs, loans, and credit cards Rate-sensitive growth stocks climbed, with Big Tech megacaps that fueled this year's rally making gains.
ہم نے اس خبر کا خلاصہ کیا ہے تاکہ آپ اسے جلدی سے پڑھ سکیں۔ اگر آپ خبر میں دلچسپی رکھتے ہیں تو آپ مکمل متن یہاں پڑھ سکتے ہیں۔ مزید پڑھ:
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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Stock market today: Dow closes at record high, S&P 500, Nasdaq slide as tech lagsStocks are eyeing a bid for fresh record highs after Jerome Powell made it crystal clear the Fed is ready to pivot to lowering rates in September.
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Stock market today: Dow, S&P 500, Nasdaq futures surge as Fed fires up rallyWall Street has absorbed the Fed's message that a deep cut will prove positive for the economy.
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S&P 500, Nasdaq rise as banks drag Dow lower: Market closeUS stocks (^DJI, ^IXIC, ^GSPC) closed Tuesday's session mixed as the S&P 500 and Nasdaq Composite maintained gains. The Dow Jones Industrial Average fell by ...
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