The Economic Times

Why US stock market surging today: Dow Jones, S&P 500, Nasdaq rise as Russell 2000 leads - PCE inflation data boosts Fed rate-cut hopes

Why US stock market surging today: The Dow Jones stands at 46,809.47, up 131 points. The S&P 500 reaches 6,681.73. The Nasdaq climbs to 22,324.48. The Russell 2000 jumps 1.16%, leading the rally. Nearly 70% of US stocks are advancing. Fresh PCE inflation data rose 0.3%, while core PCE increased 0.4%. Investors now expect a Federal Reserve rate cut in 2025. Strong buying appears in Nvidia, Intel, Micron and Nokia. Meanwhile WTI crude trades near $94 and gold holds around $5,094. Markets also watch GDP growth slowing to 0.7%, reinforcing hopes that Fed policy easing could support US stocks ahead.