Equity Alert
US mkt rises Thu as jobless claims report fuels rate cut hope
This story was originally published at 07:58 IST on 12 September 2025
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Equity Alert: US mkt rises Thu as jobless claims report fuels rate cut hope
MUMBAI--0746 IST--US stock indices hit record highs Thursday as jobless data boosted bets of interest rate cuts by the US Federal Reserve, while market partcipants largely ignored higher-than-expected consumer price index data.
The Consumer Price Index rose 0.4% on month in August, against a 0.2% rise in July, according to the US Bureau of Labour Statistics. Inflation in August was higher than the expected rise of 0.2%. The weekly jobless claims rose to 263,000 for the week ended Saturday, higher than anticipated claims of 235,000.
"While the CPI report is a tad hotter than expected, it will not give the Fed a moment of hesitation when they announce a rate cut next week. If anything, the jump in jobless claims will inject a bit more urgency in the Fed's decision making, with Powell likely signaling a sequence of rate cuts is on the way," CNBC quoted Seema Shah, chief global strategist at Principal Asset Management, as saying.
The CME Fedwatch tool shows a 93% probability of a 25-bps rate cut by the US Fed and a 7% probability of a 50-bps rate cut next week. The probability of an October rate cut also increased and market participants expect a 25-bps reduction.
The Dow Jones led the US indices, up 1.4% with gains in JP Morgan and Goldman Sachs Group, which were up nearly 2?ch. The tech-heavy Nasdaq Composite gained 0.9%, rising for the fourth consecutive session. Shares of Tesla were up 6%. Shares of Warner Brothers were up 29?ter The Wall Street Journal reported that Paramount Skydance was preparing a majority cash bid for Warner Bros. Discovery.
Following are the closing levels of US indices Thursday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6587.47 |
0.85 |
|
NASDAQ Composite |
22043.08 |
0.72 |
|
Dow Jones Industrial Average |
46108 |
1.36 |
(Eshitva Prakash)
US$1 = 88.44
End
Edited by Avishek Dutta
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