- Stocks rise With the hope of cutting tax rates and trade, the S&P 500 is about the same as the record in February.
Major U.S. stock indexes closed on hair that were recorded in record high-issuance in February, with investors hoping to reduce tax rates and tariffs to relieve their relief capabilities earlier than expected.
The S&P 500 rose 0.8% to close at 6,141, just below the February record of 6,144. this Dow Jones Up 0.97%, or 194 points, while Nasdaq Obtain 0.94%.
The economic report released on Thursday was at best mixed. The U.S. economic contraction in the first quarter is Steeper than originally thoughtAccording to a report from the Ministry of Commerce, the number of people claiming unemployment assistance is the highest in three and a half years. Durable merchandise orders are agents of manufacturing activities, showing an uptrend in May, which is by Boeing and Qatar Airways.
However, stocks surged more than the data. Wall Street Journal According to reports, President Donald Trump hopes to name a successor Jerome Powell, chairman of the Federal Reserve, earlier than expected, which may be earlier than expected. Despite the stable wait mode of the Fed chairman, Trump put pressure on Powell’s reduction.
Two members of the Fed set committee recently broke up with Powell and spoke out to cut tax rates.
White House Press Secretary Karoline Leavitt also hinted Thursday Trump’s tariff pause could surpass the previous July 9 deadline, saying it was “not important” to the trade deal.
Fiscal yields in the news fell. The 10-year Treasury yield fell to 4.24% from 4.29% late Wednesday. The two-year fiscal yield tracked expectations for Fed tax action more closely, down to 3.71%.
