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.% | ||
|---|---|---|---|---|---|
|
|
|
1.1032
|
-0.0003
|
0.0313%
|
|
|
|
|
1.3058
|
-0.0024
|
0.1850%
|
|
|
|
Tadawul
|
8326.97
|
-59.38
|
0.71%
|
|
|
|
|
18.251
|
0.147
|
0.812%
|
|
|
|
|
52.899
|
-1.373
|
2.531%
|
|
|
|
|
60.69
|
-1.35
|
2.18%
|
|
|
|
|
1581.970
|
11.340
|
0.722%
|
|
