Stocks surged on Thursday, with the S&P 500 and Nasdaq Composite reaching record highs as investors welcomed positive news on multiple fronts. The S&P 500 rose by 1% while the Nasdaq Composite climbed by 1.5%, pushing the Dow Jones Industrial Average up by 117 points, or 0.3%.
The rally was led by gains in information technology and communication services stocks, which helped propel the S&P 500 to its new high. Intel stood out as the top performer in the Dow, with shares jumping more than 3%.
Meanwhile, in Europe, the European Central Bank (ECB) lowered its forecasts for inflation and growth but opted to keep key interest rates steady. The decision by the ECB highlights concerns about the global economic outlook and ongoing trade tensions.
In the United States, Federal Reserve Chair Jerome Powell signaled that he expects interest rates to decrease later this year. Powell’s comments added to market expectations for upcoming rate cuts, boosting investor confidence.
Market analysts viewed Powell’s remarks as a sign that the Fed is ready to act decisively to support the economy if needed. The anticipation of lower interest rates helped bolster stocks and contributed to the positive sentiment in the markets.
Overall, the news of record highs for the S&P 500 and Nasdaq Composite, along with indications of potential rate cuts by central banks, provided a welcome boost to investors in what has been a volatile period for global markets.
“Infuriatingly humble tv expert. Friendly student. Travel fanatic. Bacon fan. Unable to type with boxing gloves on.”