US Stocks Keep Rising on Fed Rate Hopes

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%.

via MarketWatch

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza