S&P 500 and Nasdaq Experience Significant Gains Before Federal Reserve Meeting

Friday, 13 September 2024, 13:01

S&P 500 and Nasdaq mark their most substantial gains of 2024 as investors eagerly await the Federal Reserve's upcoming rate decision. The week ended on a high note as the S&P 500 and Nasdaq recorded remarkable weekly increases. Market participants are keenly focused on the Fed's policy meeting, analyzing potential rate cuts.
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S&P 500 and Nasdaq Experience Significant Gains Before Federal Reserve Meeting

S&P 500 and Nasdaq Surge as Investors Anticipate Fed Meeting

On Friday, U.S. stocks closed higher, with the S&P 500 and the technology-heavy Nasdaq Composite each logging their biggest weekly jumps since November. The Dow Jones Industrial Average rose 297.01 points, or 0.7%, to close at 41,393.78, while the S&P 500 climbed 30.26 points, or 0.5%, finishing at 5,626.02. The Nasdaq advanced 114.30, or 0.7%, ending at 17,683.98.

Substantial Weekly Gains for Major Indices

  • The Dow gained 2.6% for the week.
  • The S&P 500 rallied 4% during the same period.
  • The Nasdaq jumped an impressive 6%.

The S&P 500 and Nasdaq both recorded their largest weekly percentage gains since the week ending November 3, reflecting a strong bullish sentiment in the market.

Looking Ahead to the Fed's Decision

Investors are now focusing on the Fed's two-day policy meeting scheduled for next week, concluding on Wednesday. Traders are currently pricing in a 55% chance of a quarter-point rate cut and a 45% probability of a larger, half-point cut, based on data from the CME FedWatch Tool.


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.


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