From Nasdaq: 2024-11-08 09:21:00

U.S. stocks closed higher on Thursday after the Federal Reserve announced an interest rate cut, with the S&P 500 and Nasdaq hitting record highs. The Dow closed nearly unchanged. Tech, real estate, communication services, and consumer discretionary stocks saw gains, with big tech stocks leading the rally. Jobless claims increased slightly, but the overall economic outlook remains positive.

The Federal Reserve announced a 25-basis point interest rate cut, boosting investor sentiment. Market participants are awaiting further guidance on monetary policy. Trump’s re-election victory also fueled the stock market rally. Concerns about potential inflation due to large government deficits and increased tariffs have emerged. Investors are optimistic about Trump’s plans for corporate tax cuts and deregulation.

Big tech stocks like Apple, Meta Platforms, and Netflix led Thursday’s rally. Jobless claims increased slightly, but the overall economic outlook remains positive. Trillions in Federal funds are allocated for infrastructure spending, benefiting various sectors like AI data centers and renewable energy. Investors can access a report on 5 stocks poised to profit from the infrastructure boom.



Read more at Nasdaq: Stock Market News for Nov 8, 2024