S&P 500, Dow close at new highs on mining stocks

Quick Summary:

The S&P 500 and Dow ended at record highs on Tuesday, shrugging off weak consumer confidence data, as mining stocks surged following China's announcement of a sweeping stimulus package.

Metal prices got a boost after the world's second-largest economy, China, unveiled its biggest stimulus since the pandemic to pull the economy out of its deflationary funk.

Meanwhile, Federal Reserve governor Michelle Bowman cautioned that key inflation measures remained "uncomfortably above" the Fed's 2% target, warranting caution as the Fed proceeds with cutting interest rates.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaChina

Topics: SP500RecordHigh MiningStocks TechStocks /Business/ DowJonesRecord Markets ChinaStimulus MetalPrices ConsumerConfidence

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-25 @ 06:07:00 (4 days ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 525 words

Reading Time: 3 minutes read

Sentences: 24 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 22700554

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About The Star

Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 6 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 52 minutes ago

Coverage Areas: Malaysia

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