Major US indexes notch fresh records on rate cut hopes

New York, Sept 11, 2025 (AFP)
Wall Street's major indexes hit fresh records Thursday as US inflation and jobless claims data added to conviction that the Federal Reserve would lower interest rates next week.
The Dow Jones Industrial average climbed 1.4 percent to 46,108.00, while the S&P 500 Index rose 0.9 percent to 6,587.47.
The tech-focused Nasdaq Composite Index added 0.7 percent to 22,043.07.
While the consumer price index (CPI), a key gauge of inflation, hit its highest level since the start of the year in August, this was in line with analysts' expectations.
The 2.9 percent year-on-year CPI increase, coupled with a jump in initial jobless claims to its highest reading since 2021, reinforced hopes that the Fed would cut rates to boost the economy as it pivots towards addressing cooling employment.
Since its last reduction in December, the central bank has held the benchmark lending rate at a range between 4.25 percent and 4.50 percent as policymakers monitored the effects of President Donald Trump's tariffs on inflation.
"The market's breathing a collective sigh of relief," said Adam Sarhan of 50 Park Investments.
He expects the central bank to "go slow and steady" as it proceeds with more reductions after its September policy meeting.
Among individual companies, shares in Warner Bros Discovery surged more than 28 percent after the Wall Street Journal reported that Paramount Skydance is preparing a majority cash bid for the company.

Sumber : AFP