S&P 500 opens at record high on rising rate cut hopes

The S&P 500 hit an intrady all-time high for the second time this week. — Reuters pic
The S&P 500 hit an intrady all-time high for the second time this week. — Reuters pic

NEW YORK, July 3 — The S&P 500 index hit a record high at the open today, boosted by healthcare stocks, as bets of an interest rate cut were spurred by fears of a slowing global economy due to simmering trade tensions.

This is the second time the benchmark index has hit an intraday all-time high this week.

The Dow Jones Industrial Average rose 45.64 points, or 0.17 per cent, at the open to 26,832.32.

The S&P 500 opened higher by 5.07 points, or 0.17 per cent, at 2,978.08. The Nasdaq Composite gained 20.48 points, or 0.25 per cent, to 8,129.57 at the opening bell. — Reuters



Source: The Malay Mail Online

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