Money
Markets surge as Powell hints at September rate cuts
Markets surge ahead as Powell hints at September rate cuts, boosting investor confidence and driving major indices higher
Markets surge ahead as Powell hints at September rate cuts, boosting investor confidence and driving major indices higher
In Short:
– Major indices rose today, with the Dow up 902 points and Bitcoin increasing over 4%.
– Upcoming economic indicators include new home sales and consumer confidence, while key earnings reports will influence markets.
– Major indices rose today, with the Dow up 902 points and Bitcoin increasing over 4%.
– Upcoming economic indicators include new home sales and consumer confidence, while key earnings reports will influence markets.
All major indices are up today, with the Dow Jones Industrial Average rising by 902 points.
Chairman Powell’s hints at rate cuts in September fuelled investor optimism, despite concerns over a slowing economy.
The Russell 2000 index increased by 3.90%, while Bitcoin saw a rise of over 4%.
The supporting market breadth indicates a strong recovery.
The Dow hit an all-time high, and the S&P 500 is nearing its record as well.
The Nasdaq remains the laggard due to recent underperformance in tech stocks, closely trailing its previous peak.
The market’s solid performance suggests increasing momentum, spurred by a semi-dovish Federal Reserve.
Upcoming Events
Key economic indicators to watch include new home sales and consumer confidence next week.
Earnings reports will also influence market dynamics, with companies like PDD Holdings, Nvidia, and Alibaba set to announce their results.
