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home / news releases / s p 500 rockets to new high as fed confirms rate cut

SDVY - S&P 500 Rockets To New High As Fed Confirms Rate Cuts Are Coming

First Trust SMID Cap Rising Dividend Achievers ETF

2024-03-25 12:30:00 ET

Summary

  • S&P 500 index reaches all-time high after Federal Reserve confirms interest rate cuts in 2024. That confirmation was like lighting off a rocket on Wall Street.
  • The index rose nearly 0.9% after the Fed's "dot-plot" projection of future interest rates was released on Wednesday afternoon, closing at an all-time record high.
  • With the Fed's first rate cut expected in June 2024, investors have locked their forward-looking focus on the current quarter of 2024-Q2 in setting current-day stock prices.

For S&P 500 (Index:[[SPX]]) investors there was one, and only one, market-moving headline during the week that was. The Federal Reserve confirmed on Wednesday, 20 March 2024 that interest rate cuts are coming in 2024....

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S&P 500 Rockets To New High As Fed Confirms Rate Cuts Are Coming
Stock Information
Company Name: First Trust SMID Cap Rising Dividend Achievers ETF
Stock Symbol: SDVY
Market: NASDAQ
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