Following the Federal Reserve’s decision and Chairman Jerome Powell’s press conference, New York’s stock markets soared, reaching new all-time highs.
This surge reflects market confidence in anticipated interest rate cuts at the Fed’s June meeting.
The day saw mixed openings but gained momentum, showing increased risk appetite among investors.
This marks the first time since November 8, 2021, that all three indices have simultaneously set records, according to Dow Jones Market Data.
The Dow Jones Industrial Average rose by 1.03% to 39,512.13 points, the S&P 500 increased by 0.89% to 5,224.62 points, and the Nasdaq Composite grew by 1.25% to 16,369.41 points.
Highlighting corporate news, Intel shares saw a 0.36% increase, buoyed by news of up to $8.5 billion in U.S. government funding to support new chip manufacturing plants in four states.
Nvidia’s stock also rose for the third consecutive session after fluctuating throughout the day.
This recent development signals a bullish outlook for investors, driven by the Fed’s dovish signals and corporate advancements.
It potentially sets the stage for sustained market growth amid regulatory support for key industries.