Wall Street Rallies, S&P 500 Approaches Record

Wall Street experienced positive momentum on Tuesday, Dec. 20, 2023, with the S&P 500 rising by 0.6% and coming within 0.6% of its record set nearly two years ago, according to the Associated Press (AP).

The Dow Jones Industrial Average gained 0.7%, setting a record for the fifth consecutive day, while the Nasdaq composite climbed by 0.7%. I Photo: New York Stock Exchange Facebook

The Dow Jones Industrial Average gained 0.7%, setting a record for the fifth consecutive day, while the Nasdaq composite climbed by 0.7%.

The rally was driven by optimism that actions taken by Japan to maintain easy interest rates for investors could serve as a preview for global markets. The S&P 500 has surged more than 15% since late October, fueled by expectations of a similar accommodative approach to interest rates on Wall Street.

In contrast, global markets showed mixed performance in mostly quiet trading, with Japan's Nikkei 225 standing out, jumping 1.4% after the Bank of Japan opted to keep its benchmark interest rate below zero and maintain other policies to encourage borrowing and spending.

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