Nasdaq Hits Fresh Record As Fed Effect Boosts US Stocks

Nasdaq hits fresh record as Fed effect boosts US stocks

NEW YORK, (UrduPoint / Pakistan Point News -22nd Sep,2016) The Nasdaq surged to its second straight record Thursday as US stocks again posted strong gains following the Federal Reserve's decision to keep interest rates low.

Apple jumped 0.9 percent and Amazon 1.9 percent, two of the big technology equities that helped lift the Nasdaq to 5,339.52, up 0.

8 percent after also hitting a new high on Wednesday. The Dow Jones Industrial Average finished up 0.5 percent at 18,392.46, while the broad-based S&P 500 gained 0.7 percent to 2,177.18.

"This is a continuation triggered by the Fed meeting," said Alan Skrainka, chief investment officer at Cornerstone Wealth Management. "Investors are quite convinced that there will be, at most, one rate hike this year and most likely in December."