FX.co ★ S&P 500 and Nasdaq 100 Extend Record Highs

On Wednesday, U.S. stocks advanced, building on significant gains from the previous day as anticipation of multiple Federal Reserve rate cuts grew stronger. Both the S&P 500 and the Nasdaq 100 climbed approximately 0.4%, continuing to reach new record highs, while the Dow Jones Industrial Average increased by over 200 points. The moderate rise in goods prices reported by the Consumer Price Index (CPI) alleviated fears that tariffs might trigger renewed inflationary pressures within the U.S. economy. This bolstered expectations of a rate cut during the Federal Reserve's upcoming September meeting, as certain members of the Federal Open Market Committee (FOMC) had suggested that tariff-related worries had postponed the Fed's return to a more accommodative monetary policy. Market sentiment was further buoyed by President Donald Trump's decision to extend a 90-day suspension of tariffs on Chinese goods. Gains in the stock market were widespread across various sectors. Notably, Brinker saw its shares jump 9% following a positive earnings report, whereas Cava experienced a steep 24% drop after revising its full-year sales forecast downward.