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Barchart
Rich Asplund

Stocks Finish Higher as Fed Cuts Interest Rates

Dow Jones Industrials Interest Rates United States US Federal Reserve China Baird JPMorgan Chase Lyft

The S&P 500 Index ($SPX) (SPY) Thursday closed up +0.74%, the Dow Jones Industrials Index ($DOWI) (DIA) closed unchanged, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.54%.

Stocks on Thursday extended their post-election rally, with the S&P 500, the Dow Jones Industrials, and the Nasdaq 100 posting new all-time highs.  Stocks are climbing on speculation President-elect Trump will boost corporate profits through tax cuts and reduced regulation.  The strength of chip stocks also boosted the overall market, led by a +4% jump in ARM Holdings Plc after it reported Q2 earnings and revenue above consensus.  JPMorgan Chase fell more than -4% to weigh on the Dow Jones Industrials after being downgraded to underperform at Baird. 

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