On Thursday, September 19, U.S. markets closed higher following the Federal Reserve’s 50-basis-point rate cut, which also signaled potential further reductions.
Fed Chair Jerome Powell downplayed recession risks, while analysts remained hopeful for a soft landing amid inflation control efforts. Tesla, Apple, Meta, and Nvidia saw gains, supported by better-than-expected jobless claims and renewed market optimism.
According to economic data, the U.S. reported a Q2 current account deficit of $266.8 billion, exceeding estimates of $260 billion. Initial jobless claims fell by 12,000 to 219,000 for the week ending September 14, beating expectations of 230,000.
Most S&P 500 sectors closed positively, led by consumer discretionary, communication services, and information technology stocks. However, consumer staples and utilities stocks diverged, closing the session lower.
The Dow Jones Industrial Average ...
