Dow Hits Record Highs After Fed Decision

The Dow crossed and closed above 37,000 for the first time ever

Deputy Editor
Dec 13, 2023 at 4:26 PM
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Stocks broke out in a big way today, gapping higher as upbeat investor sentiment roars back to life. All three major indexes notched their fifth-consecutive wins, after the Federal Reserve held interest rates steady for the third-straight meeting. The Fed also indicated three rate cuts to come next year and lowered its 2024 inflation forecast. The Dow added 512 points, closing at a record high and above 37,000 for the first time ever. The S&P 500 and Nasdaq closed at their highest levels since January 2022.  

  • Dismal forecast slams Southwest Airlines stock
  • Why Vertiv stock could continue its record rally. 
  • Plus, VIX at multi-year lows; Roblox stock upgraded; and trouble ahead for HTZ. 

Summary 1213

NYSE Nasdaq 1213

5 Things to Know Today

    1. At the U.N. Climate Change Conference, more than 200 parties made a pact to phase out fossil fuels, but details are still up in the air. (MarketWatch)
    2. A more in-depth view of Fed Chair Jerome Powell's comments today. (CNBC)
    3. VIX plunge posing opportunity for options traders
    4. Analyst sees upside ahead for Roblox stock
    5. Struggling Hertz stock hit with downgrade. 

    Earnings 1213

    UVOL 1213

    Oil Up Off the Mat, Gold Enjoys Fed Tailwinds

    Oil futures rose from last session's six-month lows. West Texas Intermediate (WTI) crude for January delivery added 86 cents, or nearly 1.3%, to settle at $69.47 a barrel.

    Gold prices rose after today's Fed announcement, with February-dated gold futures rising $4.10, or 0.2%, to settle at $1,997.30 an ounce.

     

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