S&P 500 reaches record high, fluctuates after Powell's comments

From Google: 2024-09-30 21:34:00

The S&P 500 barely reaches a record closing high, fluctuating after Fed Chair Jerome Powell’s comments. Initially dropping before bouncing back, the index closes at 4,495.62. Powell’s statement about the Fed’s plan to eventually reduce asset purchases impacts investor sentiment. This pause follows a six-week winning streak for the S&P 500, with big tech stocks leading the gains. Despite the temporary setback, the index remains near all-time highs. Powell’s cautious approach to tapering asset purchases has left investors wary but hopeful for steady economic growth.



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