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Stocks Surge Higher
- Major U.S. stock indexes increased, with the Dow rising 50 points, S&P 500 up 0.5%, and Nasdaq up 0.9%.
- S&P 500 and Nasdaq reached new closing highs, achieving 25 and 26 records this year.
- Alphabet entered the $3 trillion market cap club, while Nvidia was the sole tech stock to decline.
- Traders expect a quarter-point interest rate cut from the Federal Reserve, with Chair Jerome Powell's press conference to follow.
- Economic data on retail sales and housing will be closely watched before the Fed's meeting.
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