Published on 8 Nov 2024 on Benzinga
Wall Street Hits Record Highs After Powell's Speech, Lifts Magnificent 7 Stocks...
The U.S. stock market closed at record highs Thursday after the Federal Reserve's widely expected decision to lower interest rates and Fed Chair Jerome Powell's press conference where he reassured markets by dismissing concerns about his potential resignation or removal following the election of Donald Trump.
The S&P 500 — as tracked by SPDR S&P 500 ETF Trust SPY — closed at 5,973 points, up 0.7% for the day.