Wall Street Soars To Records On Fed Rate Bets: What's Moving Markets Thursday?

All three major U.S. equity benchmarks — the S&P 500, Nasdaq 100, and Dow Jones — surged to fresh record highs on Thursday, as investors piled into risk assets on growing bets that interest rates will soon fall. The rally came despite gloomy economic data: U.S. inflation accelerated to 2.9% year-over-year in August, while weekly jobless claims spiked to 263,000 – their highest level since October 2021. Yet, investors brushed aside the stagflation concerns, wagering that the Federal Reserve will prioritiz ...