X

Stocks Rise on Prospects for a Rate Cut

Dow ends day up 76
By Newser Editors and Wire Services
Posted Jul 10, 2019 3:14 PM CDT

(Newser) – Stocks rose and bond yields fell as investors welcomed new signals that the Federal Reserve is ready to cut interest rates for the first time in a decade, the AP reports. Technology companies led the way higher Wednesday, helping the Nasdaq close at a record high. Western Digital rose 5%. Fed Chairman Jerome Powell said many Fed officials believe a weakening global economy and rising trade tensions strengthens the case for a rate cut. The S&P 500 rose 13 points, or 0.5%, to 2,993. It briefly traded over 3,000 for the first time. The Dow Jones Industrial Average gained 76 points, or 0.3%, to 26,860. The Nasdaq added 60 points, or 0.7%, to 8,202. The dollar fell and the price of gold rose. (Read more stock market stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.