On September 27, 2024, the Dow Jones Industrial Average reached a new record high, while the S&P 500 and Nasdaq experienced slight declines due to a drop in chip stocks. The Dow jumped 100 points, extending its rally for the third consecutive week.
The positive momentum was driven by tame inflation data, with the Dow closing at a record high on the New York Stock Exchange (NYSE:DIA). Small caps also performed well, leading the stock market as a whole, although the Nasdaq closed lower as tech stocks dragged down the index.
Chinese indexes had their best week in years, adding to the overall positive market sentiment. Investors were optimistic about the future, with stocks heading for a third week of gains on bets regarding interest rates.
Encouraging inflation data fueled the Dow to notch another record high, while the S&P and Nasdaq saw declines. Overall, the stock market closed out a strong week as inflation cooled, leaving investors feeling confident about the market’s stability.