US markets continued their upward trajectory Thursday, reaching unprecedented record highs across the board, following the Federal Reserve’s interest rate decision the previous day. The Dow Jones Industrial Average closed at 46,142, a 0.3% increase; the Nasdaq-100 reached 24,455, up 1.0%; and the S&P 500 was valued at 6,632, a robust 0.5% higher – all three marking their best closing levels ever recorded.
While the rate reduction itself played a role, the prevailing optimism stemmed primarily from the forward-looking guidance indicating potential for further interest rate decreases later in the year, fueling investor expectations.
Technology stocks were particularly buoyant. Nvidia announced a $5 billion investment in Intel shares, triggering a surge of over 20% for Intel, returning the stock to a valuation unseen in over a year. Nvidia shares also benefited, gaining more than 3% throughout the trading day.
The euro weakened against the US dollar, closing at $1.1783, equivalent to €0.8487 per dollar.
Gold experienced a slight downturn, trading at $3,645 per fine ounce (-0.5%), or €99.47 per gram.
Crude oil prices also declined; a barrel of Brent North Sea crude was priced at $67.56, a decrease of 39 cents or 0.6% from the previous day’s closing value.
