S&P 500 breaks 6,000 level as Trump, Fed-fuelled rally advances


The Dow rose 259.65 points, or 0.59%, to 43,988.99, the S&P 500 gained 22.44 points, or 0.38%, to 5,995.54 and the Nasdaq gained 17.32 points, or 0.09%, to 19,286.78.

NEW YORK: The S&P 500 briefly surpassed the 6,000 mark and closed with its biggest weekly percentage gain in a year, as Donald Trump's election victory and a possible Republican Party sweep in Congress fuelled expectations for favourable business policies.

Also supporting stocks this week was a widely expected interest rate cut of 25 basis points by the Federal Reserve on Thursday.

Subscribe or renew your subscriptions to win prizes worth up to RM68,000!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Business

Ringgit to trade in tight range of 4.46-4.48 versus US dollar next week
Wall St Week Ahead: Black Friday puts consumer spending in focus
Oil prices settle up 1% as Ukraine war intensifies
Wall St closes higher on business activity data
RHB, CGC in LCTF portfolio guarantee deal
EQ expands to Thailand
Bidding big on Malaysian art
The ringgit recovery
Building a firm facade
A test of investors’ patience

Others Also Read