Daily Note | September 20, 2024 | PIMCO UNII, India Fund Buys, CA Munis

Markets are mixed to close out the week as Dow closed above 42,000 for the first time yesterday. Investors overcame initial hesitance towards the Fed's 50 bps rate cut on Wednesday and gobbled up stocks. The S&P rose 1.7% and the Nasdaq jumped 2.5%.

Equity markets were also aided by a low initial jobless claims print that showed just 219K claims for unem…