US stock market reaches record highs as Powell boosts confidence in economy

From Reuters: 2024-10-01 00:23:00

Despite ongoing concerns about the state of the economy, the US stock market saw modest gains today as major indexes reached record highs. Federal Reserve Chairman Jerome Powell expressed confidence in the strength of the economy, contributing to the positive sentiment in the market. The S&P 500 and the Nasdaq also set new records, with technology stocks leading the way. The Dow Jones Industrial Average closed up nearly 100 points. Investors remain cautious due to global economic uncertainties and inflation fears, but today’s performance suggests continued optimism about the recovery.



Read more at Reuters: Stock market today: US indexes edge higher to records as Powell talks up strength of the economy – Yahoo Finance