Particle.news
Download on the App Store
12 ARTICLES
·
2h ago

Wall Street Caps Strong September With S&P 500’s Fifth Straight Monthly Gain and a Dow Record

Investors leaned on Fed rate cuts to power broad third-quarter advances.

A Wall Street sign hangs in front of a U.S. Flag outside the New York Stock Exchange (NYSE) before the Federal Reserve announcement in New York City, U.S., September 18, 2024. REUTERS/Andrew Kelly
Image
Image
Image

Overview

  • The S&P 500 rose 0.4%, the Dow added 0.2% to a record, and the Nasdaq gained 0.3% on Tuesday, closing September up 3.5% and the third quarter up 7.8% for the S&P.
  • A potential federal government shutdown could pause Bureau of Labor Statistics releases, forcing markets to lean more on private reports for economic signals.
  • Energy stocks lagged as West Texas Intermediate crude fell another 1.5% and reports indicated OPEC+ may consider a larger production increase for November; Exxon Mobil outlined about 2,000 job cuts in a restructuring.
  • Gold set a new high above $3,800 an ounce as traders positioned for additional Federal Reserve easing and sought portfolio hedges.
  • CoreWeave shares jumped after reports of a Meta contract worth up to $14.2 billion, adding to the company’s recent multi‑billion‑dollar AI infrastructure deals.