US stocks continue to rally towards historic highs

2019-07-12 16:43:26 GMT (Economies.com)
US stocks continue to rally towards historic highs

US stocks rose at the start of trading today with Dow Jones and Standard & Poor's rising to record highs as market expectations increased for a near Fed's rate cut.

 

Official data showed today that the US producer price index rose by 0.1% in June, after the CPI rose 0.1%.

 

The markets are anticipating a rate cut by the US central bank at this month's meeting following the announcement by its chairman, Jerome Powell, in his semi-annual testimony before the US Congress, in which he discussed the risks that surrounds the US economy as a result of the escalating trade war between the United States and China.

 

On the trading front, Dow Jones rose by 0.5% (equivalent to 133 points) to 27,220 points, Nasdaq rose 0.1% (11 points) to 8,207 points, while rising Standard & Poor's rose by 0.1% (three points) to 3003 points.

 
 
 
  Symbol Last Change Chg.%
1.1140
0.0042
0.3789%
1.2289
0.0135
1.1107%
17.418
0.314
1.834%
53.880
-0.920
1.679%
59.10
-0.82
1.37%
1526.175
13.910
0.920%
 
 
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