March 07, 2024 - 1:03 PM
NEW YORK (AP) — Stocks rose to another record, with easier interest rates beckoning on the horizon. The S&P 500 climbed 1% Thursday, beating the all-time high it set last week. The Dow added 0.3%, and the Nasdaq composite rose 1.5%. Treasury yields eased after Federal Reserve Chair Jerome Powell said it’s not far from delivering the cuts to interest rates that Wall Street craves. Powell reaffirmed the Fed’s position that cuts may start this year if inflation continues cooling.