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S&P 500 Reclaims All-Time Highs as Powell Hints at Rate Cuts, Nvidia Breaks $900

Benzinga ·  Mar 7 13:32

The$S&P 500 Index (.SPX.US)$soared past the 5,150-point mark in New York, reclaiming its record-high territory set earlier in the week. This surge was propelled by reassuring comments from Fed ChairJerome Powellregarding potential interest rate declines.

Addressing the Senate Banking Committee, Powell indicated that the Fed is not too far from being confident enough to cut rates suggesting a growing inclination among policymakers to initiate easing policy this year.

The S&P 500 closed 1% higher at 5,157.35, while the$Nasdaq Composite Index (.IXIC.US)$gained 1.5% to 16,273.38. The$Dow Jones Industrial Average (.DJI.US)$rose 0.3% to 38,791.35.

Powell's statements injected fresh optimism into the markets, with the tech-heavy Nasdaq 100 climbing...

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