Stock market today: US stocks tick higher as Fedspeak, China stimulus lift spirits

Published On Sep 24, 2024, 9:36 AM

US stocks are climbing higher as the market reacts positively to comments from Federal Reserve officials suggesting potential interest rate cuts. Additionally, substantial stimulus measures announced by China aimed at reviving its economy are uplifting investor sentiment. The Nasdaq Composite increased by approximately 0.5% and the S&P 500 saw a slight rise, continuing a winning streak fueled by optimism about these developments. Notably, major Chinese stocks like Alibaba, Nio, and JD.com surged after the stimulus announcement.

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Stock Forecasts

SPYView SPY chart on TradingView

Positive

The market is showing positive momentum due to favorable Fed comments and China's economic stimulus, which is beneficial for investor sentiment and may lead to further stock gains.

KWEBView KWEB chart on TradingView

Positive

Chinese stocks listed in the US are experiencing significant gains due to the aggressive stimulus package introduced by China, indicating a potential for continued growth in this sector in the near-term.

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