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Market Snapshot: S&P 500 set to carve out its first intraday record since May as Fed abandons ‘patience’

  • S&P 500 index notches first intraday record since May 1
  • Trump tweets that Iran ‘made a big mistake,’ oil surges 5%
  • Gold surges 3% to $1,388.60 an ounce, hitting a 5-year high
  • Enterprise-software messaging company Slack Technologies is slated to list on the NYSE

U.S. stock indexes late-morning Thursday extended gains to a fourth straight day, testing fresh records, but off their highest levels, after the Federal Reserve signaled that policy easing may be forthcoming.

How are benchmarks faring?

The Dow Jones Industrial Average DJIA, +0.52% rose 191 points, or 0.7%, to 27,735, marking its highest trading level since Oct.3. The S&P 500 index SPX, +0.52% gained 21 points, or 0.7%, to 2,947, trading above its April 30 closing record at 2,945.83 and touching a new intraday peak at 2,956.20 earlier in the session, surpassing its May 1 intraday record.

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