Dow jumps 100 points to close at a record

The Dow Jones Industrial Average reached a new record on Friday, gaining 137.89 points (0.33%) to close at 42,313.00, marking its highest-ever closing level.

The S&P 500 dipped 0.13% to 5,738.17, and the Nasdaq Composite fell 0.39% to 18,119.59, partly due to a 2% decline in Nvidia shares.

All three major indices have extended their gains for three consecutive weeks, with the S&P 500 and Dow rising about 0.6% and the Nasdaq up nearly 1% for the week.

Positive inflation data, showing a 0.1% increase in August’s personal consumption expenditures price index (PCE), supported the market’s optimism, indicating potential for further interest rate cuts by the Federal Reserve.

Analysts expect continued easing in inflation, which could provide a favorable environment for both stock and bond markets, CNBC has reported.

read more: https://www.cnbc.com/2024/09/26/stock-market-today-live-updates.html

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