US Stocks Upbeat; Dow, S&P Hit Fresh Closing Highs

The stock market was buzzing with excitement on Monday as US equities soared to all-time highs, defying expectations of market volatility. The reason? Donald Trump’s recent assassination attempt may have actually increased his chances of winning the White House again, sending optimism soaring on Wall Street.

Federal Reserve Chair Jerome Powell’s comments further fueled the positive sentiment, hinting at potential interest rate cuts in the future. Powell mentioned that recent data on inflation is encouraging and that the central bank may not wait for inflation to hit 2% before taking action.

The Dow Jones Industrial Average closed up 210.82 points, or 0.53%, reaching a new high at 40,351.10. The S&P 500 also hit a new high at 5,666.94 and closed up 15.87 points, or 0.28%. The tech-heavy Nasdaq Composite gained 74.12 points, or 0.4%, reaching 18,641.53.

Trump Media & Technology shares surged nearly 32% following the assassination attempt, while financial giants like Goldman Sachs and BlackRock also saw gains. The dollar index rose above 104 and the yield on the US 10-year Treasury note rebounded from 4-month lows to above 4.23%.

Investors are keeping a close eye on the upcoming presidential elections, with a potential Trump win seen as bullish for Treasury yields due to his inflationary policies. Overall, the market remains upbeat as it navigates through the uncertainties of the current political landscape.

Stay connected with us for more updates on WhatsApp. Powered by Capital Market – Live News.