US Edition
Dow Jones Raises More than 400 Points for the Second Day in a Row, Driven by Fed's Request for Tax Cuts
2 Articles
2 Articles
US shares rose on Wednesday, driven by rising expectations that the Federal Reserve will cut interest rates at its next meeting, following the latest inflation data.The Dow Jones Industrial Average (^DJI) led the main indices, advancing by about 1%, or more than 400 points. Meanwhile, the S&P 500 (^GSPC), which had played a new record the day before, rose by 0.2%, while the Nasdaq Composite (^IXIC) remained slightly above the flat line. The Dow …
US stocks hit new highs for the second day in a row, while the dollar weakened for the second day. US inflation data reinforced expectations that the US central bank will cut interest rates at its next monetary policy meeting, Reuters reported. According to lSEG data, markets now see a 98 percent probability of a rate cut at the Fed's next monetary policy meeting, which is scheduled for September. New highs The broader S&P 500 index rose 0.32 pe…
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