The Dow, S&P 500, and Nasdaq all ended higher, with the S&P 500 and Nasdaq closing at record levels, boosted by a Federal Reserve rate cut and strong moves in tech. AP News+2Reuters+2
Closing figures:
| Index | Close | Change (points) | Change (%) |
|---|---|---|---|
| Dow Jones Industrial Average | 46,142.42 | +124.10 | +0.3% AP News+1 |
| S&P 500 | 6,631.96 | +31.61 | +0.5% AP News+1 |
| Nasdaq Composite | 22,470.73 | +209.40 | +0.9% AP News+1 |
It was the S&P’s and Nasdaq’s first record closes in some time. AP News
Drivers of the move:
- Federal Reserve policy signals: The Fed cut interest rates by 25 basis points, its first cut of the year. Chair Jerome Powell indicated that additional cuts may come in October and December. Reuters+2Reuters+2
- Economic data: Signs of a softening labor market supported the Fed’s case for looser policy. Reuters+2Reuters+2
- Corporate action/earnings: Intel surged after Nvidia announced a $5 billion investment in it, which helped lift semiconductor and tech stocks broadly. Other tech firms like Synopsys and CrowdStrike also gained. On the downside, FactSet and Nucor dropped after disappointing outlooks. Investopedia+2Reuters+2
- Geopolitical events: There were no major new geopolitical shocks noted as primary drivers today. Much of the market action was tied to domestic policy and corporate news. Reuters+1
Sector performance:
- Gainers: Technology and semiconductors led. Industrials also contributed, helped by names like Caterpillar. Investing.com+2Reuters+2
- Laggers: Some financials were mixed; certain consumer/restaurant / food‐service stocks lagged, such as Darden Restaurants. Investopedia+1
Notable movers:
- Intel leapt (around +22–25 %) after Nvidia’s investment. Investopedia+1
- Synopsys and CrowdStrike rose sharply. Investopedia
- FactSet fell over 10% on weak guidance. Nucor also dropped after profit outlooks disappointed. Investopedia
Other markets & comparisons:
- Treasuries/yields: Yields moved up in parts, reflecting a cautious view that inflation remains sticky and that while the Fed is easing, borrowing cost expectations are still elevated. Reuters+1
- Oil, gold, dollar: Oil prices were modestly lower or mixed. Gold eased slightly. The dollar firmed in some measures. Investing.com+1
- Trend comparison: This marks a continued upward trend; it was the third straight day of gains for the S&P 500. All major indexes are up for the week. AP News+1
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Ten years of experience reporting. From car chases and courtroom verdicts to House fires, Holsford thrives during breaking news and finds it a privilege to help drive the conversation in Rockland County and the Greater New York Area. Born in San Bernardino, Thomas is a New York boy at heart. He received his bachelor’s degree in broadcast journalism, specializing in political science and sociology, from the University of Illinois
