Wall St closes higher on strong US economic data

Wall St closes higher on strong US economic data

By Echo Wang

Thu September 26, 2024 4:42 PM

Two very strong reports today, lower unemployment claims and a strong GDP, boosted all three indexes shooting the S&P to another record high. The Dow’s rise was straight up, the S&P and Nasdaq a little more circuitous, both riding a range up and down 3 times throughout the session.  Micron’s robust growth projections also gave quite the shot in the arm to the tech indexes validating a strong demand for chips in this AI-era and with the Nasdaq now sitting just 2% shy of its record high. Friday(?) is PCE which will provide more clues on inflation and a November rate cut. Since everyone’s been sitting on the fence all week, volume for once today came in above the 11.82 billion-average at 12.46 billion. 

DJ: 41,914.75  -293.47      NAS: 18,082.21  +7.68        S&P: 5,722.26  -10.67        9/25

DJ: 42,175.11  +260.36     NAS: 18,190.29  +180.09    S&P: 5,745.37  +23.11       9/26

Thu 9-26-24 4:42 pm Wall St closes higher on strong US economic data | Reuters