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S&P 500 hits record high as Fed rate cut looms
The S&P 500 closed at a record 6,502.08 on Thursday, with big tech names powering the surge.
The Dow Jones and Nasdaq also finished strong, and investors are eyeing a likely Federal Reserve rate cut.
Amazon, Broadcom, and Meta lead the charge
Amazon soared 4.3%, Broadcom rose on upbeat AI revenue forecasts, and Meta added to the momentum—even as unemployment claims ticked up.
Meanwhile, Salesforce slipped after a weak outlook, but American Eagle Outfitters surprised everyone with a massive 38% jump thanks to optimistic sales predictions.
Trading was lively but just below average volume, showing there's still plenty of action in the market.