Stocks posted more gains on Thursday, following the previous day's rally, which is impressive. The Federal Reserve's surprisingly dovish stance continued to have a positive impact on other asset classes as well. Treasurys rallied, with the yield on the 10-year note falling below 4% for the first time since July. The Dow Jones Industrial Average reached another record high, while the S&P 500 and Nasdaq also saw increases. Smaller-cap stocks made significant moves, pushing the Russell 2000 up. Bank stocks also rallied, with the KBW Nasdaq Bank Index rising. Additionally, there was good news on the economy, with retail sales in November stronger than forecasted and initial claims for unemployment falling, indicating job generation.
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Source: MarketSPM
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