US Major Indices Close at Record Levels Following FOMC Rate Decision

Wednesday, 20 March 2024, 20:20

The Dow, S&P, and NASDAQ indices reached record highs after the FOMC rate decision, where Fed Chair Powell hinted at no commitment to immediate interest rate cuts, but identified the peak in rates. Investors reacted positively to the Fed's stance, resulting in significant gains in major indices. Micron also reported impressive earnings above expectations, driven by increased AI demand and strategic product positioning for future growth. Lastly, US yields exhibited mixed movements with a steeper yield curve across various maturities.

LivaRava Finance Meta Image — US Major Indices Close at Record Levels Following FOMC Rate Decision

US major indices close at record levels

Investors cheered the FOMC rate decision and comments from Fed Chair Powell. Powell hinted at the peak in rates without altering the number of cuts for 2024.

Key Numbers:

Dow rose 401.37 points (1.03%)
S&P rose 46.11 points (0.89%)
NASDAQ rose 202.61 points (1.25%)

Winners:

Doordash +5.41%
Celsius +4.30%
Ford Motor +4.92%
...

Losers:

Moderna -1.93%
Super Micro Computers -1.59%
...

Micron reported earnings above expectations, driven by increased demand and strategic positioning.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

US major indices close at record levels

Key Numbers:

Winners:

Losers:

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