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Stock impact report

S&P 500, Dow hit record highs after Fed cuts rates. What it means for your 401(k). [USA TODAY]

LPL Financial Holdings Inc. (LPLA) 
Last lpl financial holdings inc. earnings: 4/30 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.lpl.com
Company Research Source: USA TODAY
The Dow Jones Industrial Average closed above 42,000 for the first time, ending the day up 1.3% at a record 42,025.19. The S&P 500 also ended the day at a record high for the first time since July, closing up 1.7% at 5,713.64. The Nasdaq composite also saw gains, ending the day up 2.51%. The surge comes after the Fed on Wednesday announced , its first cut in four years. The central bank expects a half-point in additional cuts throughout the remainder of the year, a sign of confidence in the labor market. “ Markets like rate cuts, especially big ones when the economy is strong,” said Jamie Cox, Managing Partner for Harris Financial Group, in an email statement. Eight of the S&P 500's 11 sector indexes rose, and tech stocks saw some of the most significant gains. Apple ended the day up 3.7%, Meta up 3.9% and Tesla up 7.4%. Invest wisely: Fed rate cuts: What does this mean for my 401(k)? Wall Street's performance is welcome news for investors stashing away money in retirem Show less Read more
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