Rate-cut euphoria elevates S&P 500 to record high [Reuters]
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Source: Reuters
Rate-cut euphoria elevates S&P 500 to record high - Reuters 4 Min Read (Reuters) - The S&P 500 index touched a record high on Thursday, driven Wall Street’s expectations that the Federal Reserve will cut interest rates as soon as next month to keep the U.S.-China trade war from stalling economic growth. The U.S. central bank left rates unchanged at the end of its two-day policy meeting on Wednesday, but pledged to “act as appropriate” to sustain economic health. Wall Street’s main indexes have gained in recent weeks on expectations of a rate cut and hopes of a revival of trade talks between the United States and China at the Group of 20 meeting next week in Japan. The benchmark S&P 500 index, which has risen about 7% so far in June, hit an intraday record high of 2,956.20 on Thursday. “It was always going to be difficult for the Fed to live up to high market expectations. While the bar was set high, policymakers appear to have cleared it with ease while also leaving themselves with pl
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