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Rich Asplund

Nasdaq 100 Index Rallies to Record High on Speculation of Earlier Interest Rate Cuts

Nasdaq SP Powell US Federal Reserve Donald Trump Barkin Interest Rates United States GDP Citigroup

The S&P 500 Index ($SPX) (SPY) on Thursday closed up +0.80%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.94%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.94%.  September E-mini S&P futures (ESU25) rose +0.75%, and September E-mini Nasdaq futures (NQU25) rose +0.92%. 

Stock indexes rallied on Thursday, with the S&P 500 posting a 4-month high, the Dow Jones Industrials posting a 3-3/4 month high, and the Nasdaq 100 posting a new all-time high.  Strength in chip makers boosted the broader market.  Stocks also saw support from Thursday's news of stronger-than-expected initial claims, core capital goods orders, and pending home sales reports. 

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