Stock Market Today: S&P 500 closes above 5,700 for first time ever as tech glows

Investing.com-- The S&P 500 swelled to close above 5,700 for the first ever on Thursday, led by tech, a day after the Federal Reserve starting its easing cycle with a substantial half percentage point reduction.The September Fed rate cut marked the beginning of an easing cycle that is likely to see rates fall further in the coming months. The Fed said a bulk of policymakers expect two more 25 bps cuts this year, but markets expect more.

Citi expects the Fed to cut rates by another 50 bps in its November meeting, but others, however, believe the Fed is more likely to deliver a 25 bps cut should incoming labor market data continue to show a moderate pace of slowing. "Assuming we do not see a material pick-up in claims filings in the coming weeks, the data is setting the Fed up for a 25 bp rate cut at the next meeting in early November," Jefferies said Thursday after pace of jobless claims fell to the lowest level since May 17.coming in at 219,000 in the week ended on Sept. 14, compared with an upwardly revised 231,000 in the prior week.

Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.would like to remind you that the data contained in this website is not necessarily real-time nor accurate.

It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock Market Today: S&P 500 rides Nvidia-led rally to close higherStock Market Today: S&P 500 rides Nvidia-led rally to close higher
Source: Investingcom - 🏆 450. / 53 Read more »

Stock market today: S&P 500 shrugs off inflation surprise as focus shifts to FedStock market today: S&P 500 shrugs off inflation surprise as focus shifts to Fed
Source: Investingcom - 🏆 450. / 53 Read more »

Stock Market Today: S&P 500 shrugs off energy, financials slide as tech shinesStock Market Today: S&P 500 shrugs off energy, financials slide as tech shines
Source: Investingcom - 🏆 450. / 53 Read more »

Stock Market Today: S&P 500 rebounds from last week's slump; inflation data eyedStock Market Today: S&P 500 rebounds from last week's slump; inflation data eyed
Source: Investingcom - 🏆 450. / 53 Read more »

Stock Market Today: S&P 500 snaps 7-day win streak as Fed delivers jumbo rate cutStock Market Today: S&P 500 snaps 7-day win streak as Fed delivers jumbo rate cut
Source: Investingcom - 🏆 450. / 53 Read more »

Stock market today: S&P 500 slips as Nvidia rebound runs out of steamStock market today: S&P 500 slips as Nvidia rebound runs out of steam
Source: Investingcom - 🏆 450. / 53 Read more »