Stock market today: Dow surges 500 points as Fed-fueled stocks set sights on records
Published On Sep 19, 2024, 9:56 AM
The US stock market surged today, with the Dow Jones Industrial Average rising over 500 points. This rally was fueled by optimism surrounding a significant interest rate cut from the Federal Reserve, which is seen as a move likely to help the economy avoid a recession. The S&P 500 also climbed approximately 1.7%, and the tech-heavy Nasdaq Composite saw a gain of 2.2%. Major tech stocks like Alphabet, Microsoft, and Apple experienced notable increases of around 2% to 4% following the announcement. Analysts now expect further rate cuts by the Fed by the end of the year.