Stock market today: S&P 500, Nasdaq build on record highs as Powell testimony keeps rate cut hopes alive
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The S&P 500 and Nasdaq closed at new record highs as rate cut hopes remained intact after Federal Reserve chair Jerome Powell's testimony to Congress. The S&P 500 finished just above the flatline to book its 36th record close of the year, while the Nasdaq Composite also built on its previous record. Traders still placed bets that the Fed will cut interest rates twice this year. Powell will appear before the House on Wednesday, setting the stage for a key update on consumer inflation on Thursday. However, there is caution in the market as some analysts predict a summer pullback and a 10% correction.
#StockMarket #S&p500 #Nasdaq #RateCut #JeromePowell #RecordHighs
https://finance.yahoo.com/news/live/stock-market-today-sp-500-nasdaq-build-on-record-highs-as-powell-testimony-keeps-rate-cut-hopes-alive-200102072.html
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