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after the federal reserve announced a 50 basis point rate cut, the u.s. stock market saw a significant rise. on september 19, the dow jones industrial average (djia) rose 522.09 points, or 1.26%, to close at 42025.19 points; the s&p 500 rose 95.38 points, or 1.70%, to close at 5713.64 points; and the nasdaq composite index (nasdaq) rose 440.68 points, or 2.51%, to close at 18013.98 points. both the dow and s&p 500 hit record highs.

new economic data showed that the number of first-time unemployment claims in the united states fell by 12,000 last week to 219,000, the lowest since may this year, and the estimate was 230,000. this shows that despite the slowdown in hiring, the labor market remains healthy. this confirms to some extent that the federal reserve is working towards a soft landing for the economy.

large technology stocks performed outstandingly in this rally, with tesla's stock price rising by more than 7%, and its market value increasing by 377.4 billion yuan overnight, setting a new closing high since late july. nvidia, meta, and apple all rose by more than 3%, netflix rose by more than 2%, and intel, microsoft, google's parent company alphabet, and amazon all rose by more than 1%.