On Thursday, the Nasdaq index closed at a record level for the first time since 2021, with an increase of 0.9%. The S&P 500 rose 0.5%, also setting a new record. The Wall Street Journal writes about this.
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Nasdaq interrupted a series of 569 trading days without new high. The Dow Jones Industrial Average rose 0.1%, or 47 points.
“January and February were the best two months to start the year for the Dow and S&P 500 since 2019. The Nasdaq index is up 7.2% this year,” writes the WSJ.
Derivatives traders now estimate the likelihood that the Fed will cut interest rates at its May meeting is 21%, according to data from the CME FedWatch Tool. up slightly from 19% ahead of Thursday's inflation data.
With the fourth-quarter earnings season almost over, S&P 500 members reported a 3.9% aggregate rise in earnings, with most of that growth provided only a small number of companies, the newspaper adds.