Stocks rallied and Treasury yields fell sharply after the Federal Reserve indicated that the cuts to interest rates Wall Street craves so much may be coming next year.
The Dow jumped to a record high close above 37,000 points. Broader indexes also rose. The S&P 500 climbed 1.4% and the Nasdaq composite also added 1.4%.
Wall Street has been mostly charging higher since October, largely on hopes that cuts to interest rates are on the way. Rate cuts can relax pressure on the economy by lowering borrowing costs, and they can goose prices for all kinds of investments.
On Wednesday:
The S&P 500 rose 63.39 points, or 1.4%, to 4,707.09
The Dow Jones Industrial Average rose 512.30 points, or 1.4%, to 37,090.24.
The Nasdaq composite rose 200.57 points, or 1.4%, to 14,733.96.
The Russell 2000 index of smaller companies rose 66.24 points, or 3.5% to 1,947.51.
For the year:
The S&P 500 is up 102.72 points, or 2.2%.
The Dow is up 842.37 points, or 2.3%.
The Nasdaq is up 329.99 points, or 2.3%.
The Russell 2000 is up 66.69 points, or 3.5%.
For the year:
The S&P 500 is up 867.59 points, or 22.6%.
The Dow is up 3,942.99 points, or 11.9%.
The Nasdaq is up 4,267.48 points, or 40.8%.
The Russell 2000 is up 186.26 points, or 10.6%.
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know?
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
