Risk appetite is surging again Thursday on Wall Street, with investors welcoming the Federal Reserve’s decision to keep rates unchanged and Fed Chair Jerome Powell‘s cautious remarks.
Traders flocked to rate-sensitive tech stocks and bonds as expectations grew that the Federal Reserve might consider lowering interest rates as early as June 2024. Treasury yields declined by 10 basis points for 30-year maturities and 6 basis points for 10-year maturities. The market rally was widespread, with all S&P 500 sectors posting gains.
Investors now turn their focus on the U.S. largest company by market capitalization, Apple, Inc. (NASDAQ:AAPL), which is set to release its fourth-quarter earnings report at the end of the trading day.
Cues From Thursday’s Trading:
The S&P 500 rallied 1.6%, on track for its sharpest one-day increase since early May. The tech-heavy Nasdaq 100 surged 1.5%, on course for its fifth straight session of gains.
The Dow Jones Industrial Average rose 1.3%, while small caps in the Russell 2000 rallied 1.7%.
US Index Performance On Thursday
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