US Stocks Keep Rising on Fed Rate Hopes

Jul 12 14:07 2019 Print This Article

Stocks rose at the start of trade Friday, pushing further into record territory, after Federal Reserve Chairman Jerome Powell in two days of congressional testimony this week bolstered investor expectations for an interest-rate cut at the end of the month.

How are the major benchmarks performing?

The Dow Jones Industrial Average DJIA, +0.47% rose 135 points, or 0.4%, to 27,224, while the S&P 500 SPX, +0.14% gained 3 points, or 0.1%, to 3,004. The Nasdaq Composite index COMP, +0.18% was 15 points higher at 8,212, a gain of 0.2%.

The Dow hit a new intraday high of 27,248.71, while the S&P set a new intraday record of 3,006.18.

The Dow on Thursday rose 227.88 points, or 0.8%, to 27,088.08, marking its first close above 27,000. The S&P 500 also pushed back into record territory, advancing 6.84 points, or 0.2%, to end at 2,999.91. The Nasdaq Composite, which scored a record close on Wednesday, pulled back, ending 6.49 points lower Thursday at 8,196.04, a loss of 0.1%.

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