US stocks soared on Thursday amid growing optimism that the Federal Reserve's bumper interest-rate cut will deliver a "soft landing" for the US economy. The S&P 500 climbed roughly 1.7%, while the Dow Jones Industrial Average rose more than 500 points, both touching fresh record highs. The tech-heavy Nasdaq Composite led the gains, up 2.2%. Stocks are rallying as investors take a closer look at the Fed's decision to kick-start its new rate cycle with 50 basis point cut.
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 in premarket trading, with Big Tech megacaps that fueled this year's rally making gains.
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
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.
Read more »
Stock market today: Dow, S&P 500 surge as stocks mount a comeback from deep lossesInflation is back in focus for investors gauging pressures that could influence the size of Fed rate cuts.
Read more »
Stock market today: S&P 500, Dow futures waver as inflation report loomsInvestors are gearing up for a consumer inflation print seen as crucial to determining the size of the first US interest-rate cut in years.
Read more »
Stock market today: S&P 500, Dow futures slip as inflation report loomsInvestors are gearing up for a consumer inflation print seen as crucial to determining the size of the first US interest-rate cut in years.
Read more »
Stock market today: Dow, S&P 500 gear up for recovery after steep lossesInflation is back in focus for investors gauging pressures that could influence the size of Fed rate cuts.
Read more »
Stock market today: Dow, S&P 500 rise as stocks mount a comeback from deep lossesInflation is back in focus for investors gauging pressures that could influence the size of Fed rate cuts.
Read more »