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Dow Jones Marks Record Highs on Post-Fed Optimism

The Dow Jones Industrial Average (DJIA) surged to its second all-time high in two days, fueled by investor optimism after the Federal Reserve’s (Fed) decision to hold interest rates steady. Fed Chair Powell’s comments hinting at potential future rate cuts further boosted risk appetite.

Key Takeaways:

  • Fed Tailwinds: The Fed’s decision and dovish remarks buoyed market sentiment, pushing the DJIA towards the 40,000 psychological level.
  • Broad-Based Rally: Most sectors ended in the green, led by Industrials and Financials.
  • Apple Drag: Apple (AAPL) weighed on the index after facing antitrust accusations from the US Department of Justice.

Technical Outlook:

  • Momentum Building: The Dow Jones continues its upward trajectory, with buyers potentially targeting the psychologically significant 40,000 level.
  • Upside Gap to Watch: Sellers need to push the index below 39,520 to close Thursday’s bullish gap and potentially trigger a decline toward the 38,600 swing low.