Reported 12 months ago
On July 2, 2024, at 8:10 pm, US Federal Reserve Chairman Powell sent a dovish signal, indicating significant progress in containing inflation but needing further evidence for confirmation. Though Powell stressed a cautious approach to rate cuts, his words significantly boosted market confidence, leading to all four major indices closing higher. The Dow Jones Industrial Average rose 162 points to 39,331; the Nasdaq climbed 149 points to 18,028; the S&P 500 gained 33 points to 5,509; and the Philadelphia Semiconductor Index increased by 67 points to 5,544.
Source: YAHOO