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%
|
|
