Wall Street clawed back some of Wednesday’s steep losses after the Federal Reserve pulled back its forecast for rate cuts next year. The Fed lowered its benchmark, short-term fed funds rate late Wednesday by a quarter percentage point, as expected, but pared back its forecast for rate cuts next year. It only expects to cut…
Another day, another rally by mega tech stocks. Shares of iPhone maker Apple, Google-parent Alphabet, electric car maker Tesla and AI-chipmaker Broadcom all rallied to new all-time highs, which helped power the tech-heavy Nasdaq to its own record peak. The Nasdaq closed up 1.24%, or 247.17 points, at a record 20,173.89. The broad S&P 500 index ended up 0.38%,…
U.S. stocks continued their post-election rally on Friday, notching more record highs with the Dow and S&P 500 putting in their best weekly performance all year. The blue-chip Dow closed up 259.65 points, or 0.59%, to a record high 43,988.99, and the broad Standard & Poor’s 500 index finished up 22.44 points, or 0.38%, to…
U.S. stocks mostly extended their big post-election rally on Thursday, with all three major indexes touching record highs during the session after the Federal Reserve trimmed interest rates. The Fed lowered its short-term, benchmark fed funds rate by a quarter-percentage point to between 4.5% to 4.75%, down from a 23-year high of 5.25% to 5.5%…