Dow Jones expands gains towards fresh record highs

Most US stock indices rose on Tuesday with Dow Jones marking successive record highs amid expectations the Fed will cut interest rates soon. 

Earlier government data showed US retail sales stabilized in June, while separate data showed import prices also steadied. 

According to the Fedwatch tool, there’s a 91.4% chance of a Federal Reserve 0.25% interest rate cut at the September meeting, and an 8.4% chance of a 0.5% rate cut.  

As for the July meeting, the overwhelming likelihood (93.3%) is on maintaining interest rates unchanged. 

On trading, Dow Jones rose 1.5%, or 583 points as of 17:22 GMT to 40,799, while S&P 500 rose 0.2%, or 14 points to 5645, as NASDAQ shed 0.3%, or 62 points to 18,410.