US equity indexes hit new intraday record highs ahead of the Federal Reserve's monetary policy announcement and Chairman Jerome Powell's press briefing in which investors will look for clues about the future path of interest rates.
The Dow Jones Industrial Average rose less than 0.1% to 43,755.7, with the S&P 500 up 0.7% to 5,967.2 and the Nasdaq Composite 1.3% higher at 19,231.8. All sectors except energy, financials, and industrials climbed intraday.
Consumer discretionary, communication services and technology led the gainers ahead of the Fed's monetary policy-setting committee's November decision at 2 pm ET. Powell's press briefing will follow the policy announcement. The CME FedWatch tool showed that the probability of a 25 basis-point rate cut is 99%. The Fed cut its target rate by 50 basis points in September, kicking off its easing cycle.
The US dollar index fell 0.6% to 104.44.
US Treasury yields fell, with the 10-year down 6.5 basis points to 4.36% and the two-year rate 5.1 basis points lower at 4.22%.
In economic news, the seasonally adjusted number of initial claims rose by 3,000 to 221,000 in the week ended Saturday, according to the Department of Labor. The consensus was for 222,000 in a survey of analysts compiled by Bloomberg. The previous week's reading was revised up by 2,000 to 218,000.
In company news, EPAM Systems (EPAM) shares soared 14% intraday, the top gainer on the S&P 500, after the company reported higher Q3 adjusted earnings and revenue. The company also raised its outlook for the full year.
Warner Bros. Discovery (WBD) reported the strongest quarterly gain in subscribers for its Max streaming platform in Q3 alongside surprise net income, even as revenue fell from a year ago. Shares jumped 11% intraday, the top performer on the Nasdaq.
The Federal Aviation Administration will enhance its oversight of Boeing (BA) as the company prepares to resume 737 MAX production following the end of a strike earlier this week by 33,000 of its workers, Reuters reported Thursday, citing the agency. Shares of the company rose 2.4% intraday, trading among the leaders on the Dow.
West Texas Intermediate crude oil rose 0.1% to $71.76 a barrel.
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