S&P 500 notches record close on monetary easing hopes

US equities rose on Thursday, Sept. 18 amid outperformance of small caps. The US Federal Reserve slashed interest rates for the first time in 2025, with monetary easing expected amid risks of weak labor market.

The Dow Jones Industrial Average added 124 points, or nearly 0.27%, to end at 46,142. The S&P 500 rose 0.48%, or 31 points, to 6,631, closing at a fresh record high. The Nasdaq Composite gained 0.94%, or 209 points, to 22,470.

Notably, the small cap-focused Russell 2000 surged 2.29%, ending the session at 2,467 points - a record level or the first time since 2021.

The pan-European STOXX 600 advanced 0.80% to 555 points. Germany’s DAX soared 1.35% to 23,674 points, with France’s CAC adding 0.87% to 7,854 points. The FTSE 100 Index also ended 0.20% higher at 9,228 points.

The Nikkei Stock Average advanced 1.15% to an all-time high of 45,303 points. The broader Topix index finished 0.40% higher at 3,158 points.

On oil, Brent crude November futures fell 0.75%, or 51 cents, to $67.44 a barrel.

WTI October futures declined 0.75%, or 48 cents, to $63.57 a barrel.

As for gold, December futures dropped 1%, or $39.5, to $3,678.30 an ounce at settlement.