The film star Glark Gable married the actress Kay Williams in California. (11 July)
Thursday 's stock market was a huge success and the Dow was on top of 27,000 for the first time due to the Federal Reserve' s trading tension and offsetting new interest rates more than offsetting economic concerns.
Typically, the Fed cuts its main short-term rate among recession, which limits any emerging market situation, says Nick Reece, portfolio manager for Merk Investments. But in the light of conversation this week, Fed's Chairman Jerome Powell confirmed prospects for the central bank to lower this month's rate and the economy is continuing to try to tackle a possible downturn.
“To what extent (the FED) is to cut rates and not recession, that is to support stocks,” says Reece.
Order trump executive: Organ transplantation will provide a low-tech biotechnology company
Kidney dialysis stocks rising: t Investors see Trump executive order as good news
Other higher dynamic powered stocks: The market is not repeatedly afraid of mitigating the fears of a trade war.
“As the worst fears don't happen, fuel is given to the bull market,” says Reece.
At G-20 meetings last month, President Trump and Chinese President Xi Jinping did not resolve their wide dispute but Trump agreed to put a 25% tariff on the next $ 300 billion in Chinese imports. under duties as talks continue.
As a result, stocks are climbing despite a slow global and economic economy and many analyzes are forecast for recession next year, allowing the bull market and the expansion of the economy to record tracks. year to expand.
Dow Jones industrial average closed up 228 points, or 0.85%, at 27,088. The Standard Standard rose 500 and 6.8 points, or 0.23%.
The Nasdaq tech drop 6.5 points, or 0.08%, at 8,196.
Ironically, Reece believes that the broad market can rise by 10% this year as long as investors' fears continue to keep the volatile market and sustaining death. The S&P 500 is up around 20% this year but just 12% above the early 2018 level.
On Wednesday, Fed Chairman Jerome Powell said that many Fed officials believe that a declining global economy and increasing trading tension have reduced the case for rate cuts. The statements came as Powell gave evidence to the House Financial Services Committee.
The market came together much in June after the central bank first expressed its willingness to cut rates for offsetting global growth and disagreements from US trade conflicts.
Chipmaker Nvidia was among major entrepreneurs in the technology sector trading early Thursday. The stock climbed 3.8%. CenturyLink led business people in the communications sector, rising by 1.2%.
Mystery grows: The Vatican opens tombs looking for the remains of a missing girl
Hong Kong extradition Bill: Parents remember, with friends the protester died
Banks also helped to raise the market. They got a boost from picking up in the result of the 10 year Treasury note, which increased to 2.08% from 2.06% late Wednesday. When bond yields increase, they increase interest rates on mortgages and other loans, making them more profitable for lenders. Goldman Sachs Group achieved 2.6%.
Energy stocks were the largest lagging area. Cimarex Energy Gas decreased by 3.8%. Real estate and material stocks also fell.
CONSUMER PRICESThe Labor Department said Thursday that the consumer price index increased by 1.6% in June from a previous year. This is down from 1.8% in May and a second direct fall. He rose 2.1% since a year ago.
The inflation is dumb during the 10-year expansion, that is the longest record on record now, even because the unemployment rate fell to very low 3.7%. The Chair of the Federal Reserve, Jerome Powell, commented on continued low inflation on Wednesday as a reason for lowering short-term interest rates at the next meeting at the end of July.
TRADE FEESThe backward tariffs for markets remain a concern.
Although China-US. Trade tensions have eased telephone conversations between the principal messengers, friction looms with France after the administration presidency of Donald Trump investigated the French plans for special tax aimed at large technology companies.
Added: Related Press
Read or Share this story: https://www.usatoday.com/story/money/2019/07/11/stocks-rise-on-wall-street-sending-dow-briefly-over-27-000/1703059001 /