Published on 7 Mar 2024 on Benzinga
S&P 500 Reclaims All-Time Highs As Powell Hints At Rate Cuts, Nvidia Breaks $900, Bitcoin Nears...
The S&P 500 soared past the 5,150-point mark during midday trading in New York, reclaiming its record-high territory set earlier in the week. This surge was propelled by reassuring comments from Fed Chair Jerome Powell regarding potential interest rate declines.
Addressing the Senate Banking Committee, Powell indicated that the Fed is not too far from being confident enough to cut rates suggesting a growing inclination among policymakers to initiate easing policy this year.