US markets surged Thursday, achieving record highs across the board following the Federal Reserve’s interest rate decision. The Dow Jones Industrial Average closed at 46,142 points, up 0.3 percent. The Nasdaq-100 reached 24,455 points, a 1.0 percent increase and the S&P 500 was valued at 6,632 points, a robust 0.5 percent higher – all three marking unprecedented closing levels.
While the interest rate reduction itself played a role, the market’s enthusiasm largely stemmed from the implied outlook suggesting the potential for further rate cuts throughout the remainder of the year.
Tech stocks experienced particularly strong gains, fueled by Nvidia’s announcement of a $5 billion investment in Intel shares. Intel’s stock price jumped over 20 percent, reaching levels not seen in over a year, while Nvidia also saw its shares rise by more than 3 percent during the trading day.
The Euro weakened against the US dollar, closing at $1.1783, equivalent to $0.8487 per Euro.
Gold prices also showed a downward trend, with a fine ounce trading at $3,645 (-0.5 percent). This translates to €99.47 per gram.
Crude oil prices decreased as well; a barrel of Brent North Sea crude was priced at $67.56, a 39-cent or 0.6 percent decline from the previous day’s closing price.