S&P 500, Dow close at new highs as mining stocks rise on China stimulus boost

S&P 500, Dow close at new highs as mining stocks rise on China stimulus boost

By Echo Wang

Tue September 24, 2024 4:55 PM

The two tech indexes started the day well into the red until about 11 a.m. when all three indexes suddenly zoomed, which was likely when China announced its big stimulus package which is seen as lending a benefit to mining stocks. The Dow too shot up some 150 points for about ½ hour before declining again though the S&P and Nasdaq stayed steady on the upswing.  All three closed in positive territory, the S&P and Dow both at once again new records. PCE and jobless claims are coming later this week and remain the focus. Fed Governor Bowman cautioned that we are still too far above inflation goals so future cuts must be approached with caution. Volume came in at 11.4 billion, just a tad below the 11.6 average. 

DJ: 42,124.65  +61.29       NAS: 17,974.27  +25.95      S&P: 5,718.57  +16.02         9/23

DJ: 42,208.22  +83.57       NAS: 18,074.52  +100.25    S&P: 5,732.93  +14.36         9/24

Tue 9-24-24 4:55 pm S&P 500, Dow close at new highs as mining stocks rise on China stimulus boost | Reuters