Shift on Interest Rates Gives Dow a Lift

Index is now closing in on positive territory for the year
By Newser Editors,  Newser Staff
Posted Aug 27, 2020 3:07 PM CDT
Dow Is Close to Positive Territory for 2020
In this photo provided by the New York Stock Exchange, trader Neil Catania works on the floor of the NYSE during the IPO of Chinese electric carmaker XPeng, Thursday, Aug. 27, 2020, in New York.   (Nicole Pereira/New York Stock Exchange via AP)

(Newser) – This might not have seemed possible in the worst of the pandemic, but the Dow is now closing in on positive territory for 2020, reports CNBC. Thanks to a policy shift by the Fed that should keep interest rates low, the Dow rose 160 points to 28,492 on Thursday. Elsewhere, the S&P rose 5 points to 3,484 after briefly crossing 3,500 for the first time, and the Nasdaq lost 39 points to 11,625. The Dow is now less than 50 points off its 2019 close. Mike Loewengart of E-Trade Financial tells the AP that he is among those happy with the Fed move. “The era of easy money is here." (Read more stock market stories.)

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