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Barchart
Rich Asplund

Stocks Rally on Positive Corporate News and Fed Rate Cut Hopes

ED Donald Trump Nasdaq United States Dow Jones Lisa Cook Neel Kashkari Arista Networks ECB Minneapolis Fed

The S&P 500 Index ($SPX) (SPY) Wednesday closed up +0.73%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.18%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.29%.  September E-mini S&P futures (ESU25) rose +0.72%, and September E-mini Nasdaq futures (NQU25) rose +1.21%.

Stock indexes rallied Wednesday on some positive corporate news.  Arista Networks closed up more than +17% after its Q3 revenue forecast exceeded expectations.  Also, Match Group closed up more than +10% after projecting a stronger-than-expected Q3 sales forecast.  In addition, Apple rose +5% to lead megacap technology stocks higher after President Trump said the company will announce that it will commit to spending another $100 billion on domestic manufacturing.

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