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S&P 500, Dow at New Intraday Highs as Bulls Bank on Fed Rate Cut
Friday, 12 July 2019 23:22 WIB | MARKET UPDATE |DOW JONESS & P 500SahamAS

U.S. stocks were higher midday 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.

The Dow Jones Industrial Average rose 133 points, or 0.5%, to 27,222, while the S&P 500 gained 6 points, or 0.2%, to 3,006. The Nasdaq Composite index was 29 points higher at 8,225, a gain of 0.4%.

The Dow hit a new intraday high of 27,248.71, while the S&P set a new intraday record of 3,006.90.

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%.

Source Marketwatch

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