The NY Stock Exchange ended Thursday on a record high with the Dow Jones Index rising 1.3% to 42025, Standard & Poor’s 500 rising 1.7% to 5714 and the Nasdaq Composite rising 2.5% to 18014.
Wednesday’s 0.5% rate cut by the US Federal Reserve pushed the indexes to historical heights as investors pushed the indexes to rises not seen since July, as a consensus formed that inflation was under control.
Positive prospects of economic growth due to the rate cuts also were a factor in investors optimism, as house sales figures came up at records highs and the number of sales declined.
Analysts said that the rates cuts are setting the stage for a strong market performance the coming months.
By Staff
