Wall Street rallied on Thursday with the S&P 500 hitting another intraday record high after the Federal Reserve kicked off its easing cycle with half-a-percentage point reduction.
Read More Wall St jumps with tech stocks in the lead after Fed kicks off easing cycle
Federal Reserve Chair Jerome Powell offered an explicit endorsement of interest rate cuts, saying further cooling in the job market would be unwelcome.
Read More Fed’s Powell says ‘time has come’ to lower interest rates
U.S. job expansion over the 12 months ending in March was overestimated by a staggering 818,000 on Wednesday, which is a worrisome sign that the economy has continued to slow down.
Read More Report: 818K Less Jobs Were Created By Biden Admin., Calling For Concerns About The Economy
A new survey has revealed that Americans searching for a new job has hit the highest rate in more than a decade.
Read More Survey: Over 28% Of Americans Are Now Searching For New Employment, The Highest In A Decade
Markets have been choppy after the S&P 500 and the Nasdaq extended gains to an eighth straight session on Monday.
Read More Wall St little unchanged as investors await Fed cues
Wall Street’s main indexes rose about 1% on Thursday as retail sales data for July indicated resilient consumer spending.
Read More Wall St marches ahead as retail sales quell slowdown worries