[New York Stock Market - First Report]Fed and Trump Administration 'Dual Put' Boosts Markets—All Three Major Indexes End Higher

(New York=Yonhap Infomax) Jin Woo Choi = The three major U.S. stock indexes closed higher in tandem.

Investor risk appetite strengthened after dovish comments from John Williams, President of the Federal Reserve Bank of New York, fueled expectations for a policy rate cut by the Federal Reserve (Fed).

Additionally, reports that the Trump administration is considering easing export controls to allow Nvidia Corp., the leading U.S. chipmaker, to sell certain graphics processing units (GPUs) to China provided further tailwinds for equities.

This marks a rare instance of simultaneous 'put' support—market backstops likened to put options—from both the U.S. central bank and the administration.

On the 21st (U.S. Eastern Time), the Dow Jones Industrial Average closed up 493.15 points (1.08%) at 46,245.41 on the New York Stock Exchange (NYSE).

The S&P 500 index gained 64.23 points (0.98%) to finish at 6,602.99, while the Nasdaq Composite advanced 195.03 points (0.88%) to 22,273.08 at the close.

jwchoi@yna.co.kr

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