Stocks Close Modestly Higher, Dow Jones Hits Second Straight Record High

Stocks closed modestly higher on Wall Street, with the Dow Jones Industrial Average reaching its second consecutive record high. The gains followed a significant rally the previous day, fueled by expectations of interest rate cuts in the coming year.

S&P 500 and Nasdaq Composite Show Gains

The S&P 500 climbed 0.3 percent on Thursday, bringing it within 1.6 percent of its all-time high set in early 2022. The Dow Jones Industrial Average added 0.4 percent, while the Nasdaq composite gained 0.2 percent. The positive performance of these major indices indicates a positive sentiment among investors.

Treasury Yields Fall

Treasury yields fell again on Thursday, following the Federal Reserve’s indication that it may cut rates more than previously forecasted in 2024. This decline in yields suggests that investors are seeking safer investments amid uncertainty in the market.

Thursday’s Closing Numbers

• The S&P 500 rose 12.46 points, or 0.3 percent, to 4,719.55.
• The Dow Jones Industrial Average rose 158.11 points, or 0.4 percent, to 37,248.35.
• The Nasdaq composite rose 27.59 points, or 0.2 percent, to 14,761.56.
• The Russell 2000 index of smaller companies rose 53.01 points, or 2.7 percent, to 2,000.51.

Weekly Performance

For the week, the S&P 500 is up 115.18 points, or 2.5 percent. The Dow Jones Industrial Average has gained 1,000.48 points, or 2.8 percent. The Nasdaq composite has risen by 357.59 points, or 2.5 percent. The Russell 2000 index of smaller companies has shown significant growth, increasing by 119.70 points, or 6.4 percent.

Year-to-Date Performance

Looking at the year-to-date performance, the S&P 500 has surged by 880.05 points, or 22.9 percent. The Dow Jones Industrial Average has gained 4,101.10 points, or 12.4 percent. The Nasdaq composite has experienced substantial growth, rising by 4,295.08 points, or 41 percent. The Russell 2000 index of smaller companies has increased by 239.27 points, or 13.6 percent.

It is important to note that the information provided is for general informational purposes only and should not be considered as a recommendation or solicitation for investment, tax, legal, financial planning, estate planning, or any other personal finance advice. The accuracy and timeliness of the information cannot be guaranteed, and readers should conduct their own research and consult with professionals before making any investment decisions.

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