[뉴욕증시] ‘All-time high’ Dow, up 0.55%… Rising across the board due to relief from inflation

On the 30th (local time), the three major indices of the New York Stock Exchange all closed higher. The photo is the U.S. Stock Exchange./Photo=Image Today
The three major indexes on the New York Stock Exchange all closed higher on the 30th (local time). The PCE (personal consumption expenditures) price index, which the U.S. Federal Reserve (Fed) monitors as inflation data, met market expectations, further increasing expectations of a rate cut.

On this day, the Dow Jones Industrial Average on the New York Stock Exchange closed at 41,563.08, up 228.03 points (0.55%) from the previous day. It surpassed the record high in just one day, following the previous record close of 41,335.05 the previous day.

The S&P 500 index, which is centered on large-cap stocks, closed at 5,648.40, up 56.44 points, or 1.01%. This marked the fourth consecutive month of gains for the index.

The tech-heavy Nasdaq index closed at 17,713.62, up 197.19, or 1.13%. The PCE price index rose 0.2% in July from the previous month and 2.6% from a year earlier, matching the estimates of economists surveyed by Dow Jones.

The core PCE price index, excluding food and energy, also rose 0.2% from the previous month, meeting market expectations.

According to a Newsis report that day, Michael Green, chief strategist at Simplify Asset Management, an American asset management company, said, “The stock market is acting as if everything is optimistic,” and that investors are looking positively at the September interest rate cut.

However, Green pointed out that the Fed’s cut is more likely to be a small cut (0.25%p cut) rather than a big cut (0.50%p cut). He said, “There is a lot of evidence for a soft landing, and little evidence for the Fed to aggressively cut rates.”