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Rich Asplund

S&P 500 and Dow Jones Industrials Post Record High on Rate Cut Optimism

On United States Inflation University of Michigan US Federal Reserve Citigroup Delta Air Lines JPMorgan Chase Wells Fargo

The S&P 500 Index ($SPX) (SPY) Friday closed up +0.55%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.62%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.59%.

Stock indexes Friday settled higher, with the S&P 500 and Dow Jones Industrials posting new record highs. A rebound in chip stocks on Friday from Thursday’s sell-off boosted the overall market. Stocks extended their gains after the University of Michigan’s US July consumer sentiment index unexpectedly fell to an 8-month low, reinforcing speculation the Fed will be able to cut interest rates at the September FOMC meeting.

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One subscription that gives you access to news from hundreds of sites

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