Stock market today: Dow, S&P 500, Nasdaq bounce back from Fed-fueled rout
Published On Dec 19, 2024, 9:37 AM
US stocks experienced a rebound on Thursday after a previous sell-off driven by the Federal Reserve's hawkish stance on interest rates. The Dow Jones Industrial Average rose over 1% following a ten-day losing streak, while the S&P 500 and Nasdaq Composite also saw gains of approximately 1%. The Fed's latest decision to cut rates by a quarter point but lower its expectations for future cuts affected market sentiment significantly. New economic data showed the US GDP grew at an annualized rate of 3.1%, and jobless claims declined more than expected, further boosting investor confidence.