US Stocks Hit New High, MicroStrategy Up 9.04%
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September 20, 2024
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Wall Street Traders Bet on Soft Landing, Pushing Stocks to Record Highs
On September 20, Wall Street traders placed bets on the Federal Reserve's ability to achieve a soft landing, fueling a rebound in riskier areas of the market and pushing US stocks to record highs.
The S&P 500 index surged 1.7% on Thursday, marking its 39th new high for the year, and extending its year-to-date gains to around 20%. The Nasdaq 100 index jumped 2.6%. The S&P 500 index broke through the 5700 point mark, while the Dow Jones Industrial Average surpassed 42,000 points, both hitting new highs.
In the cryptocurrency space, Coinbase gained 3.44%, and MicroStrategy rose 9.04%.
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