The S&P 500 Index ($SPX) (SPY) Thursday closed up +1.03%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.34%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.56%.
Stock indexes on Thursday posted moderate gains with the S&P 500 and Nasdaq 100 climbing to new record highs. Stocks rose Thursday on speculation the Fed and ECB will start cutting interest rates as soon as June. Fed Chair Powell said Thursday that interest rate reductions “can and will begin” this year, and ECB President Lagarde said the ECB may be in a position to ease policy in June. Stocks also found support in Thursday’s Fed-friendly U.S. productivity and trade deficit reports.
