On Thursday, Sept. 12, U.S. markets closed higher as expectations grew for a Federal Reserve rate cut, driven by inflation data signaling a likely 25-basis point reduction. Strong tech stock performance lifted the Nasdaq, while Moderna’s weak revenue forecast led the S&P 500’s losses. The European Central Bank also announced a rate cut.
According to economic data, U.S. producer prices rose 0.2% in August, exceeding market expectations, while initial jobless claims increased by 2,000 to 230,000 for the week ending Sept. 7.
All 11 S&P 500 sectors closed higher, led by the gain in communication services. Energy and consumer discretionary stocks also posted significant gains.
The Dow Jones Industrial Average was up 0.58% and closed at 41,096.77. The S&P 500 ended the day higher by 0.75% at 5,595.76, and the Nasdaq Composite rose ...
