U.S. stocks open at new historical highs after Trump's victory, with anticipation for the Federal Reserve's decision.
The US stock market saw an increase in the major US stock indices on Thursday as the opening bell rang on Wall Street, with indices continuing to build on their previous gains to open the session at new historical highs for the second consecutive day, following the significant support received from the former US President Donald Trump's victory in a new presidential term.
However, the gains in US stock indices remained limited in the early trades, as investors leaned toward a bit of caution while preparing for the upcoming decision of the US Federal Reserve regarding interest rates later in the day, where it is widely expected that the Federal Open Market Committee will present another less aggressive cut in interest rates; by 25 basis points.
In terms of trading, the performance of the US stock indices at the opening was as follows:
- The Dow Jones Industrial Average rose marginally by 0.11%, reaching 43,806.18 points, which is the highest level it has ever recorded.
- The Standard & Poor's 500 jumped by 0.38% to 5,953.6 points, marking a new record level.
- The Nasdaq 100 technology index surged by approximately 0.55% to 20,966.5 points, thus establishing a new historical peak.