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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

The S&P 500 has set a new historical record

July, 03 2024
watermark Economic news

The S&P 500 index reached a new historic high at the close of trading on Tuesday, receiving support from the optimism of Wall Street traders and expectations of a Federal Reserve interest rate cut. 


The index reached 5,509 points after the statement by Fed Chairman Jerome Powell about the return of the United States to the path of disinflation. For the first time in its history, the S&P 500 recorded a level above 5,500 points, which marked the 32nd record high this year and continued strong growth in 2024. 


Shares of Tesla Inc. jumped 10%, and the Nasdaq 100 index reached 20,000 points. Apple, Amazon and Microsoft have also reached their annual peaks. 


At the same time, Nvidia shares declined by 1.3%, which raised investors' doubts about the company's ability to maintain its success. Lennar Corp. and D.R. Horton Inc. also suffered losses due to the downgrade of Citigroup Inc. due to concerns about the weak housing market. 


Of all the sectors in the S&P 500 index, only healthcare and energy closed in the red, while the consumer discretionary sector showed the largest growth.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.