The Dow and S&P 500 once again today, with the former settling above 42,000 for the first time with a 522-point pop, while the latter conquered the 5,700 level. The Nasdaq scored an impressive 460-point gain of its own, closing at its highest level since July as tech stocks rallied. Today’s gains came after the around the Federal Reserve’s sizable interest rate cut wore off. Manufacturing and also contributed to today’s rally, with the Cboe Volatility Index () snapping a three-day win streak as it pivoted lower.
GOLD, OIL ENJOY RATE CUT OPTIMISM
Oil prices settled higher on Thursday, with investors becoming less risk-averse following the Fed’s rate cut. October-dated West Texas Intermediate (WTI) crude added $1.04, or 1.5%, to close at $71.95 a barrel. Gold prices also enjoyed the central bank’s easing monetary policy, and earlier notched a new record high. Gold for December delivery was last seen 0.1% higher at $2,600.60.More By This Author:
Dow Surges Over 500 Points For Record Close
