Dow jumps 450 points, S&P hits record high
United States equities continued to trade in the positive trajectory that started at the session’s open. Dow Jones soared 450 points or 1.30%, while the S&P 500 hit a new record high after jumping 1.04%. The Nasdaq 100 turned to the green zone, erasing some of the previous losses.
Federal Reserve released its semi-annual Monetary Policy Report stating that inflation growth is still temporary in nature, even though it may stick around for longer. The labor market is also seeing improvement recovering from the pandemic, while the GDP increased by 6.4%.
The Dow was up 1.27% led by Dow Inc jumping 3.07%, while the S&P 500 gained 1% with Discover Financial Services rising by 5.54%. The Nasdaq 100 climbed 0.61% as Check Point increased by 4.23%.
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