Stocks rose Friday following a winning session that sent indexes to new records as the Federal Reserve’s decision to cut interest rates set in investors’ minds.
The Dow Jones Industrials gained 93.52 points to end Thursday at 46,235.94
The S&P 500 index acquired 16.05 points to 6,648.01.
The tech-heavy NASDAQ popped 100.75 points to 22,571.47.
Stocks also got a boost this week after the Fed lowered its benchmark overnight lending rate by a quarter percentage point, its first rate reduction since December.
The move was widely expected by markets, but stocks had a volatile session on the back of the decision after Fed Chair Jerome Powell in his press conference characterized the decision as a “risk management cut.”
Prices for 10-year Treasury faded a bit Friday. pushing yields up to 4.13% from Thursday’s 4.12%. Treasury prices and yields move in opposite directions.
Oil prices dipped 22 cents to $63.35 U.S. a barrel.
Gold prices surged $17.90 to $3,696.20 U.S. an ounce.
