Dow Jones jumps 322 points as relief rally resumes
NEW YORK, New York — U.S. stocks rallied on Thursday, a day after the Federal Reserve left official interest rates unchanged. "We see markets breathing a sigh of relief after the Fed meeting was less hawkish than feared," Angelo Kourkafas, senior strategist at Edward Jones told CNBC Thursday. "The base case continues to be that rate cuts are delayed, but not necessarily derailed." Here’s a summary of the closing stock market quotes: S&P 500 (GSPC): The S&P 500 index closed at 5,064.20, marking a gain of 45.81 points, or 0.91 percent. Dow Jones Industrial Average (^DJI): The Dow Jones Industrial Average concluded at 38,225.66, with an increase of 322.37 points, or 0.85 percent. NASDAQ Composite (^IXIC): The NASDAQ Composite index led the gains Thursday, closing at 15,840.96, up by 235.48 points, or 1.51 percent. Market participants were encouraged by positive economic data, including strong corporate earnings reports and signs of progress in geopolitical tensions. Tech stocks, in particular, drove the gains, contributing to the NASDAQ’s outperformance. Trading volume remained robust, with billions of dollars exchanged across the markets, reflecting heightened investor activity and confidence in the ongoing recovery. Analysts remain cautiously optimistic about the market’s outlook, closely monitoring developments related to inflation, monetary policy, and geopolitical events for potential impacts on future market movements. Overall, Thursday’s trading session ended on a positive note, with major indices posting solid gains as investors continue to navigate through a dynamic and evolving market landscape. Foreign Exchange Market Report: Mixed Performance for Major Currency Pairs In the latest trading session on Thursday, the world foreign exchange market witnessed a mixed performance among major currency pairs. Here’s a roundup of the key FX rates: Euro / US dollar (EURUSD): The euro gained slightly against the U.S. dollar, with the EURUSD pair last trading at 1.0724, reflecting an increase of 0.12 percent. US dollar / Japanese yen (USDJPY): The Japanese yen was sharply higher, with the USDJPY pair trading at 153.13, marking climb of 0.95 percent. US dollar / Canadian dollar (USDCAD): The Canadian dollar jumped to 1.3681, reflecting a gain of 0.42 percent. British pound / US dollar (GBPUSD): The British pound saw a marginal increase against the dollar, with the GBPUSD pair hitting 1.2533, a rise of 0.06 percent. US dollar / Swiss franc (USDCHF): The Swiss franc advanced Thursday, with the USDCHF pair climbing 0.9101, marking an increase of 0.59 percent. Australian dollar / US dollar (AUDUSD): The Australian dollar strengthened against the U.S. dollar, with the AUDUSD pair trading at 0.6563, reflecting a gain of 0.63 percent. New Zealand dollar / US dollar (NZDUSD): The New Zealand dollar also saw gains against the dollar, with the NZDUSD pair firming to 0.5960, an increase of 0.53 percent. Global Markets Show Mixed Performance: Hang Seng and EGX 30 Surge While IDX Composite Tumbles In Thursday’s closing stock market activity, global indices displayed a mixed performance, with some experiencing gains while others faced declines. Here’s a roundup of the key indices: CANADA S&P/TSX Composite index (^GSPTSE): The S&P/TSX Composite index closed at 21,823.22, witnessing a gain of 94.67 points, or 0.44 percent. UNITED KINGDOM FTSE 100 (^FTSE): The FTSE 100 in London closed at 8,172.15, marking an increase of 50.91 points, or 0.63 percent. EUROPE DAX PERFORMANCE-INDEX (^GDAXI): Germany’s DAX PERFORMANCE-INDEX concluded at 17,896.50, witnessing a decrease of 35.67 points, or 0.20 percent. CAC 40 (^FCHI): The CAC 40 in Paris, France closed at 7,914.65 Thursday, experiencing a decline of 70.28 points, or 0.88 percent. ESTX 50 PR.EUR (^STOXX50E): The broader ESTX 50 PR.EUR concluded at 4,890.61, experiencing a decline of 30.61 points, or 0.62 percent. Euronext 100 Index (^N100): The Euronext 100 Index closed at 1,496.99, witnessing a decrease of 6.62 points, or 0.44 percent. BEL 20 (^BFX): The BEL 20 in Brussels ended at 3,893.20, marking an increase of 9.94 points, or 0.26 percent. ASIA Nikkei 225 (^N225): The Nikkei 225 in Tokyo, Japan, ended at 38,236.07, with a decrease of 37.98 points, or 0.10 percent. HANG SENG INDEX (^HSI): Hong Kong’s HANG SENG INDEX surged Thursday, closing at 18,207.13, up by 444.10 points, or 2.50 percent. SSE Composite Index (000001.SS): In China, the SSE Composite Index closed at 3,104.82, experiencing a decline of 8.22 points, or 0.26 percent. Shenzhen Index (399001.SZ): The Shenzhen Index concluded at 9,587.12, witnessing a decrease of 86.63 points, or 0.90 percent. STI Index (^STI): In Singapore, the STI Index closed at 3,296.89, up by 4.20 points, or 0.13 percent. S&P BSE SENSEX (^BSESN): The S&P BSE SENSEX ended at 74,611.11 on Thursday, witnessing a gain of 128.33 points, or 0.17 percent. NIFTY 50 (^NSEI): India’s NIFTY 50 ended at 22,648.20, with a gain of 43.35 points, or 0.19 percent. IDX COMPOSITE (^JKSE): The IDX COMPOSITE in Jakarta, Indonesia, closed at 7,117.42, experiencing a decline of 116.77 points, or 1.61 percent. FTSE Bursa Malaysia KLCI (^KLSE): The FTSE Bursa Malaysia KLCI ended at 1,580.30, with an increase of 4.33 points, or 0.27 percent. KOSPI Composite Index (^KS11): South Korea’s KOSPI Composite Index closed at 2,683.65 Thursday, experiencing a decline of 8.41 points, or 0.31 percent. TSEC weighted index (^TWII): In Taipei, Taiwan, the TSEC weighted index ended at 20,222.44, with a decrease of 174.16 points, or 0.85 percent. OCEANIA S&P/ASX 200 (^AXJO): The S&P/ASX 200 ended at 7,587.00, marking an increase of 17.10 points, or 0.23 percent. ALL ORDINARIES (^AORD): The Australian ALL ORDINARIES concluded at 7,849.40, with an increase of 17.50 points, or 0.22 percent. S&P/NZX 50 INDEX GROSS (^NZ50): Across the Tasman in New Zealand, the S&P/NZX 50 INDEX GROSS concluded at 11,874.04, with a gain of 6.46 points, or 0.05 percent. AFRICA Top 40 USD Net TRI Index (^JN0U.JO): The Top 40 USD Net TRI Index in Johannesburg, South Africa, closed at 4,039.24, with a gain of 48.68 points, or 1.22 percent. MIDDLE EAST TA-125 (^TA125.TA): Israel’s TA-125 closed at 1,962.15 Thursday, marking an increase of 6.75 points, or 0.35 percent. EGX 30 Price Return Index (^CASE30): The EGX 30 Price Return Index in Cairo, Egypt, concluded at 26,113.70, with a significant gain of 843.20 points, or 3.34 percent.