Stocks broadly climbed for a second consecutive session on 9th October 2024 with Dow & S&P 500 reaching new record highs
The S&P 500 and Dow Jones Industrial Average both closing at record highs, buoyed by a surge in technology stocks and a dismissal of geopolitical worries.
The S&P 500 increased to 5792, marking a new all-time high, while the Nasdaq Composite rose to end at 18291. The Dow Jones Industrial Average jumped 431 points to close at a record 42512.
Leading the rally were technology stocks, with Amazon and Apple each gaining over 1%. Super Micro Computer saw a significant 4% increase. The gains helped offset a rocky start to October, propelling the major indices into positive territory for the month.
Following the release of minutes from the Federal Reserve’s September meeting, which showed a 0.50% interest rate cut, stocks held onto their gains. The minutes indicated that a ‘substantial majority of participants‘ were in favour of the more significant rate reduction.
Record high reached for the S&P 500 on 9th October 2024
Record high reached for the Dow Jones on 9th October 2024
