US Stocks Surge as Waller Hints at Steady Interest Rates
The US stock market experienced a significant surge today, with the S&P 500 leading the charge. This positive movement was triggered by comments from Federal Reserve member Christopher Waller, who indicated that he could support keeping interest rates steady if inflation continues to improve.
The S&P 500 rose 66.71 points (+0.87%) to stand at 7,733 points, while the Dow Jones increased by 547.72 points (+1.03%) to reach 53,609.67 points. The Nasdaq also saw gains, rising 313.58 points (+1.20%) to 26,531 points.
In addition to Waller's comments, investors analyzed new labor market figures, which showed initial jobless claims reaching 206,000 in the week ended August 29, slightly above expectations. Continuing claims rose to 1.78 million, ahead of the official August jobs report due Friday.