BREAKING: S&P 500 jumps to RECORD HIGH after the Fed chief signals a rate cut is coming
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Stocks jumped to record highs Wednesday after testimony from Federal Reserve Chair Jerome Powell bolstered the case for easier monetary policy in the U.S.
The S&P 500 gained 0.6% to break above 3,000 for the first time ever as the energy and tech sectors outperformed. The Nasdaq Composite also hit an all-time high, rising 1%. The Dow Jones Industrial Average jumped 195 points to a record, led by Chevron and American Express.
The article goes on to state the following:
Amazon shares rose 1.2% and broke above $2,000 per share. FedEx shares climbed more than 1% after Goldman Sachs added them to their conviction buy list.
In prepared testimony to the House Financial Services Committee, Powell said business investments across the U.S. have slowed “notably” recently as uncertainties over the economic outlook linger.
— Bloomberg (@business) July 10, 2019
Powell testified before the House Financial Services Committee Wednesday morning.
Breaking News: The S&P 500 hit 3,000 for the first time after the Fed chair signaled an openness to cutting interest rates soon amid signs of economic weakness https://t.co/qhyIdyD4FO
— The New York Times (@nytimes) July 10, 2019
BREAKING: S&P 500 tops 3,000 for the first time ever https://t.co/pE7N4oYRDq
— CNBC Now (@CNBCnow) July 10, 2019
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