U.S. stock markets experienced a general uptick following another interest rate reduction by the Federal Reserve aimed at bolstering the economy.
On Thursday, the S&P 500 index increased by 0.7%, while the Dow Jones Industrial Average remained relatively unchanged, and the Nasdaq composite recorded a 1.5% rise.
The interest rate cut was anticipated by analysts, and Federal Reserve Chair, Jerome Powell, noted that it is premature to assess the influence of Donald Trump’s presidential victory on future rate adjustments.
Following the Fed’s announcement, Treasury yields continued to trend lower, with bank stocks and smaller businesses underperforming compared to the broader market as other trades linked to Trump’s presidency lost some traction.
In specific figures for Thursday:
The S&P 500 added 44.06 points, reaching a total of 5,973.10.
Conversely, the Dow Jones Industrial Average dipped slightly by 0.59 points to 43,729.34.
The Nasdaq composite saw a boost of 285.99 points, climbing to 19,269.46.
Meanwhile, the Russell 2000 index, which focuses on smaller companies, decreased by 10.23 points to settle at 2,382.69.
Looking at the performance over the week:
The S&P 500 registered an increase of 244.30 points, or 4.3%.
The Dow Jones saw an uptick of 1,677.15 points, equating to a rise of 4%.
The Nasdaq gained 1,029.54 points, amounting to a 5.6% increase.
In comparison, the Russell 2000 reported a gain of 172.56 points, which is a notable 7.8%.
For the year thus far:
The S&P 500 has surged by 1,203.27 points, reflecting a robust 25.2% growth.
The Dow Jones Industrial Average is up by 6,039.80 points, marking a significant 16% increase.
The Nasdaq has enjoyed substantial growth of 4,258.11 points, translating to an impressive 28.4% rise.
Lastly, the Russell 2000 has also shown strong performance with a year-to-date increase of 355.62 points, or 17.5%.