U.S. Stock Market: Major Indexes Open with Gains
CryptoNewsTerminal Staff31 May, 2024
U.S. Stock Market: Major Indexes Open with Gains
The U.S. stock market opened with gains on Thursday, led by the S&P 500 index. The S&P 500 rose by 0.22%, while the Nasdaq Composite gained 0.12% and the Dow Jones Industrial Average increased by 0.11%. The market's gains were driven by positive earnings reports from several major companies. United Parcel Service (UPS) reported better-than-expected earnings, and its stock price rose by over 3%. Visa (V) also reported strong earnings, and its stock price increased by 2%. The market's gains were also supported by optimism about the Federal Reserve's upcoming interest rate decision. The Fed is expected to raise interest rates by a quarter-point on Wednesday, but investors are hopeful that the Fed will signal that it will not raise rates too aggressively in the future.
