At 2:40 PM in Lisbon, the Dow Jones was up 0.59% to 44,721.12 points, while the Nasdaq gained 0.53% to 21,796.71 points.
Simultaneously, the S&P 500 rose 1.13% to 6,445.76 points.
On Tuesday, the Nasdaq (+1.39%) and S&P 500 (+1.14%) reached new highs, with 21,681.90 and 6,445.76 points, respectively. The Dow Jones Industrial Average advanced 1.10%.
The market recovery, partly buoyed by the relief from the extended truce in President Donald Trump’s trade war with China, is being driven by renewed optimism that the Federal Reserve (Fed) will cut rates in September.
Lower rates would boost investments and the economy, making it cheaper for American families and businesses to borrow money for homes, cars, or equipment.
President Donald Trump has been urging cuts vehemently to bolster the economy, often personally criticizing the Fed chairman in the process.
The Fed has hesitated, concerned that Trump’s tariffs could trigger another round of high inflation, and will review more data on US inflation and the labor market before its next meeting, which ends on September 17.
