It was a stellar day for US indices with the major indices all rising by over 1.1%. The Russell 2000 at a stellar day with a gain of 2.99%. That was its largest one-day gain since May 12 when the index rose 3.41%.
Both the S&P and the NASDAQ indices closed at record levels and near session highs.
A snapshot of the closing levels shows:
Dow industrial average rose 483.52 points or 1.10% at 44458.61.S&P index rose and 72.31 points or 1.13% at 6445.76.NASDAQ index rose 296.50 points or 1.39% at 21681.90.Russell 2000 surged by 66.26 points or 2.99% at 2282.77.The CPI data was as expected and didn't scare the market away from the chance of a September rate cut. The market has priced in around 60 basis points of cuts between now and the year-end.
U.S. airline stocks surged after July airfare data showed a 4% rise—the first increase in six months—signaling improved pricing power as carriers scale back capacity to match softer demand. American Airlines rose 12.22%, United Airlines rose 10.19%, Delta Air Lines rose 9.23% and Southwest Airlines rose 5.73%..
Cheer! Cheer for another record close.
This article was written by Greg Michalowski at investinglive.com.Hence then, the article about nasdaq and s p at highs and at record levels was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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