On Wednesday, March 19, U.S. markets closed higher after the Federal Reserve held interest rates steady at 4.25%-4.50% and signaled two rate cuts later this year. The Fed also projected slower growth, higher inflation, and a slower balance sheet reduction.

Markets reacted positively, while uncertainty around tariffs and inflation persists. The Dow, S&P 500, and Nasdaq all posted strong gains.   

In economic data, U.S. mortgage applications fell by 6.2% during the second week of March, reversing part of the 37% combined surge seen over the previous two weeks.

Also Read: Tariff Inflation May Be ‘Transitory,’ Powell Says: Stocks Rally, Bitcoin Clears $85,000 As Bulls Return

All sectors in the S&P 500 ended higher, led by strong performances in energy, information technology, and consumer discretionary stocks.

The Dow Jones Industrial Average rose 0.92% to close at 41,964.63, the S&P 500 gained 1.08% to 5,675.29, and the Nasdaq Composite rose 1.41% to 17,750.79.

Asia Markets Today

• Japan markets were closed for the Vernal Equinox holiday.
• On Thursday, Australia’s S&P/ASX 200 was up 1.16% and closed at 7,918.90, led by gains in the IT, A-REITs and Gold sectors.
• India’s Nifty 50 rose 1.19% to 23,181.15 and Nifty 500 was up 0.93% at 21,054.80.
• China’s Shanghai Composite declined 0.51% to 3,408.95, and the Shanghai Shenzhen CSI 300 slid 0.88% to 3,974.99.
• Hong Kong’s Hang Seng was down 2.23%, ending the session at 24,219.95.

Eurozone at 05:45 AM ET

• The European STOXX 50 was down 0.92%.
• Germany’s DAX declined 1.46%.
• France’s CAC fell 0.86%.
• U.K.’s FTSE 100 index traded lower by 0.21%

Commodities at 05:45 AM ET

• Crude Oil WTI was trading higher by 0.16% at $67.01/bbl, and Brent was up 0.11% at $70.86/bbl.
• Natural Gas declined 1.41% to $4.187.
• Gold was trading higher by 0.17% at $3,046.50, Silver was down 0.44% to $34.057, and Copper slid 0.02% to $5.0990.
• Gold prices held steady near record highs on Thursday, supported by Fed rate cut expectations and safe-haven demand amid geopolitical uncertainty.

U.S. Futures at 05:45 AM ET

Dow futures were down 0.02%, S&P 500 futures fell 0.01% and Nasdaq 100 futures declined 0.01%.

Forex at 05:45 AM ET

• The U.S. Dollar Index rose 0.40% to 103.88, USD/JPY was down 0.03% to 148.63, and USD/AUD gained 1.01% to 1.5887.
• The dollar rose after the Fed signaled no rush to cut rates amid tariff uncertainty. Central banks in Switzerland, Sweden, and Japan held or adjusted rates, while global currencies reacted mixed.

Photo via Shutterstock