Dow closes at record high, S&P 500 and Nasdaq slip slightly

From Investing.com: 2024-09-20 16:16:03

The Dow closed at record highs as investors anticipated further Federal Reserve rate cuts, with the index rising 0.1% to 42,063.36 points while the S&P 500 and Nasdaq slipped slightly. Stocks surged after the Federal Reserve slashed rates by 50 basis points, prompting expectations for economic growth. Fed speakers, like Fed Governor Michelle Bowman, discussed the jumbo rate cut, who was the sole member to vote against it. FedEx stock plummeted 15% after missing earnings expectations, while Nike stock soared 7% on news of CEO transition. American Airlines is considering switching credit card partners, and Intel saw a 4% increase after rumored takeover talks with Qualcomm.



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