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Barchart
Rich Asplund

Stock Indexes Rally to Record Highs on Fed Rate Cut Expectations

The S&P 500 Index ($SPX) (SPY) on Thursday closed up +0.48%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.27%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.95%.  September E-mini S&P futures (ESU25) rose +0.50%, and September E-mini Nasdaq futures (NQU25) rose +0.92%. 

Stock indexes rallied on Thursday, with the S&P 500, Nasdaq 100, and Dow Jones Industrials posting new record highs.  The prospects for additional Fed easing sparked a risk-on sentiment in asset markets and boosted stocks on Thursday.  Strength in semiconductor stocks led technology stocks and the overall market higher, after Intel surged more than +22% after Nvidia agreed to invest $5 billion in the company and said the two will codevelop chips for PCs and data centers.

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