Wall Street notched another set of record closes on Thursday, a day after the US Federal Reserve trimmed rates by 25 basis points and signalled more cuts are on the table as the jobs market cools.<\/p>\n
Chip stocks led the charge.<\/p>\n
Intel rocketed 22.8% \u2014 its biggest one-day gain since October 1987 \u2014 after Nvidia said it would invest $US5 billion in the struggling chipmaker. Nvidia rebounded 3.5%, clawing back losses linked to reports Chinese tech firms could curb purchases of its chips.<\/p>\n
Those moves lifted the Philadelphia Semiconductor Index 3.6%, helped the tech-heavy Nasdaq higher and pushed the S&P 500\u2019s tech sector up 1.36%. Seven of the S&P\u2019s 11 sectors advanced, while consumer staples and consumer discretionary lagged.<\/p>\n
Small caps joined the party: the Russell 2000 closed at a record 2,466, with investors betting a lower-rate environment will give domestically focused companies a leg-up.<\/p>\n
The\u00a0Dow Jones\u00a0rose 0.27% to 46,142 points, the\u00a0S&P 500 gained half a per cent to\u00a06,631 points. The tech-heavy Nasdaq Composite finished the day almost 1% higher at\u00a022,470 points.<\/p>\n
Traders are now pricing roughly 44.2 basis points of additional cuts by the end of 2025, according to LSEG data \u2014 a backdrop that keeps the recent AI-driven rally well supported.<\/p>\n
– with reporting from Reuters<\/p>\n","protected":false},"excerpt":{"rendered":"Wall Street notched another set of record closes on Thursday, a day after the US Federal Reserve trimmed…\n","protected":false},"author":2,"featured_media":30530,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[11120,11121,3571,45,49,48,3237,11124,11123,100,11122,122,6495],"class_list":["post-153542","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-asx","tag-australian-dollar","tag-bitcoin","tag-business","tag-ca","tag-canada","tag-dow-jones","tag-live-blog","tag-live-update","tag-markets","tag-nyse","tag-share-market","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/153542","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=153542"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/153542\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/30530"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=153542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=153542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=153542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}