The S&P 500 Index ($SPX) (SPY) Wednesday closed up +1.08%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.92%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.30%. March E-mini S&P futures (ESH25) are up +1.11%, and March E-mini Nasdaq futures (NQH25) are up +1.31%.
Stock indexes rallied Wednesday, with the S&P 500 posting a 1-1/2 week high and the Dow Jones Industrials posting a 1-week high. Stocks gained and bond yields fell after the FOMC kept interest rates unchanged but projected two 25 bp interest rate cuts by the end of the year. Stock gains accelerated Wednesday afternoon based on comments from Fed Chair Powell, who said the US economy remains strong and there's no need for action by the Fed in the face of uncertainty from tariffs and their impact on inflation.
