The main indicators on Wall Street reached their highest closing levels ever on Friday. The broad S&P 500 index closed at 4,839.81 points, while the previous record high of 4,796.56 points was set in January 2022. The leading Dow Jones index also opened higher than ever at 37,863.80 points. Tech indicator Nasdaq also made a profit, but it was already higher at the end of 2021.
There has been an upward trend on the New York stock exchanges for months, mainly due to falling inflation. American investors are therefore hopeful that the Federal Reserve will start lowering interest rates this year. There is also a lot of optimism about all the opportunities that artificial intelligence offers.
“It’s been a wild ride for equity investors after two years of extremes with high inflation and rising interest rates, but now it looks like the economy is ready for a soft landing,” an analyst from BMO Wealth Management said of the new record levels, according to the ANP news agency. . “Inflation is cooling and there is more predictability about what the future path looks like for Fed policy.”