BREAKING: S&P 500 jumps to RECORD HIGH after the Fed chief signals a rate cut is coming

Sign up for our newsletter
BY TEAM DML / JULY 10, 2019 /

GET the DML NEWS APP (FREE) Click Here

Below is a report that DML News App gives a 4 OUT OF 4 STARS trustworthiness rating. We base this rating on the following criteria:

  • Provides named sources
  • Reported by more than one notable outlet
  • Does not insert opinion or leading words
  • Includes supporting video, direct statements, or photos

Click here to read more about our rating system.

As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by CNBC:

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.

Powell testified before the House Financial Services Committee Wednesday morning.

To get more information about this article, please visit CNBC. To weigh in, leave a comment below.

DML News App offered you the above aggregated article preview as part of our ongoing effort to educate and inform people around the world about news, events, and politics. We encourage you to obtain additional information by visiting CNBC

Sign up for our newsletter

GET the DML NEWS APP (FREE) Click Here

Leave a comment

Your email address will not be published. Required fields are marked *