Stocks close higher after Fed cuts interest rates

Quick Summary:

US stocks closed higher on Thursday, after the Federal Reserve announced a cut of 25 basis points (bps) in interest rates, extending a sharp rally sparked by Donald Trump's return as US president.

The Dow fell 0.59 point, or flat, to 43,729.34, the S&P 500 gained 44.06 points, or 0.74%, to 5,973.10 and the Nasdaq gained 285.99 points, or 1.51%, to 19,269.46.

Treasury yields, which have surged in recent weeks, retreated after a sharp rise on Wednesday, as the benchmark 10-year yield eased from a four-month high of 4.479%, before briefly paring declines slightly after the Fed statement and were last at 4.332%.

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Category: EconomyBusiness

Markets: Malaysia

Topics: InterestRates /Business/ FedRateCut SP500 Markets NasdaqSurge MarketRally DowJones TrumpEffect

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-08 @ 06:33:00 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 652 words

Reading Time: 4 minutes read

Sentences: 22 lines

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Copyright Owner: © The Star

News ID: 23465567

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