Wall Street Climbs: Record Highs Amid Federal Reserve Insights
Wall Street surged on Wednesday, with the S&P 500 and Dow reaching record highs following Federal Reserve meeting minutes that showed support for a significant rate cut. Investors anticipate less inflation surprise but remain optimistic about economic prospects after a strong September jobs report.
In a robust trading session on Wall Street, both the S&P 500 and the Dow achieved record closing highs as investors absorbed Federal Reserve meeting minutes while gearing up for upcoming inflation data and corporate earnings.
The Federal Reserve's minutes revealed significant support for a half-point rate cut, alleviating investor concerns and igniting market optimism. Traders are cautiously optimistic about upcoming economic reports, including a pivotal inflation figure due to release Thursday.
Meanwhile, Alphabet faced continued scrutiny as the U.S. Department of Justice considers recommending the divestment of core components to restrict Google's dominance. The market remains watchful in the wake of a strong jobs report, which allays fears of a looming recession.
(With inputs from agencies.)