Dow S&P 500 and Nasdaq gain to new records: US stock market moves toward record highs today:
Wall Street had a record-breaking day on Thursday as fresh optimism swept through the markets. The big drivers? The Federal Reserve’s latest rate cut and Nvidia’s massive bet on Intel.
The Nasdaq Composite jumped nearly 0.9%, while the S&P 500 rose 0.5% and the Dow Jones Industrial Average added 0.3%. All three indexes closed at record highs. The Russell 2000, which tracks smaller companies, also surged more than 2%, marking its own all-time high.
One of the biggest surprises came from Intel. Its stock skyrocketed 23% after Nvidia announced a $5 billion investment in the struggling chipmaker—sending a strong signal of confidence to investors.
Markets also responded positively to the Fed’s move to lower interest rates by a quarter percentage point. The central bank hinted that at least two more cuts could come in 2025, though Fed Chair Jerome Powell reminded investors that challenges like high inflation and a sluggish job market remain.
Fresh jobless claims data added to the mixed picture. While fewer Americans filed for unemployment compared to the previous week, overall hiring has slowed, showing cracks in the labor market.
On the corporate front, investors are waiting for FedEx’s earnings report, due after the market close. Analysts expect the shipping giant’s profits to be hurt by President Trump’s move to end tariff exemptions for low-value packages from China and Hong Kong.
Meanwhile, Trump is in the UK, where he attended a high-profile dinner with tech and finance leaders at Windsor Castle. Attention now shifts to his upcoming call with Chinese President Xi Jinping, which could finalize a TikTok deal and set the tone for broader trade negotiations.
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