NEW YORK, NEW YORK – JUNE 18: Traders work on the floor of the New York Stock Exchange (NYSE) on June 18, 2024 in New York City. After the S&P 500 and Nasdaq closed at record highs Monday, U.S. stocks were up in early trading Tuesday. Spencer Platt/Getty Images/AFP (Photo by SPENCER PLATT / GETTY IMAGES NORTH AMERICA / Getty Images via AFP)
New York, United States — Wall Street stocks jumped Tuesday, lifting major indices to fresh records, following comments from Federal Reserve Chair Jerome Powell that boosted the odds for interest rate cuts.
The broad-based S&P 500 gained 0.6 percent to 5,509.01, a fresh record.
The tech-rich Nasdaq Composite Index gained 0.8 percent to 18,028.76, also a record, while the Dow Jones Industrial Average advanced 0.4 percent to 39,331.85.
READ: US Fed has made ‘quite a bit of progress’ on inflation: Powell
Powell’s upbeat comments came at a panel discussion with other central bankers in…
