Tuesday ended Nasdaq Up 0.84 percent to 18,028.76 points. Dow Jones It rose 0.41 percent to 39,331.85 points. Standard & Poor's 500 It rose 0.62 percent to 5,509.01 points.
This is the first time the S&P 500 has closed above 5,500, after hitting 5,000 in February.
The rally came after comments from Federal Reserve Chairman Jerome Powell on Tuesday afternoon. Speaking at a central bank forum in Portugal, the central banker suggested that the U.S. economy is slowing, which is pushing inflation in the right direction.
– Powell said the latest numbers (last week's PCE note, editor's note) suggest we're on the way down, but we want to be more certain before we think about cutting rates.
Asked directly if that meant interest rate cuts in September, Powell replied:
– We are now in a situation where it is dangerous to cut interest rates too early or too late.
U.S. job openings (JOLTS) rose to 8.14 million in May, versus an expected 7.91 million. This represents an increase of 221,000 from the previous month, of which 179,000 were in public/government employment. In the private sector, job openings rose to 705,500 from 701,300.
He. She 10-Year US Treasury Bond Yield 4.427 percent VIX IndexAlso called the fear index, it reached 12.00, down 1.8 percent.
The S&P 500 rose 3.5% in June, hitting several Wall Street records during the period. Seven of the past eight months, the S&P 500 has actually finished in the red. In early July, JPMorgan updated its Analyst Focus list, which includes its top stock picks based on growth, revenue and value. The recommendations can be found here.
Seven Wonders
There was a broad-based rise in all seven major technology stocks, except for Nvidia. Today's winner was Teslaafter the company came out with a sales update.
The automaker delivered 443,956 vehicles in the second quarter, down 4.7 percent from a year earlier but still 1.8 percent better than the FactSet consensus of 436,000 vehicles. Shares rose 10.2 percent.
apple It rose 1.6 percent, closing at a new all-time high of 220.27. The share has surged 30 percent in the past three months, giving it a market cap of $3.378 billion.
The company is constantly messing around. Microsoft To the throne as the world's most valuable company, it is now “only” $36 billion behind its rival. Microsoft shares closed up 0.5 percent, also hitting a new all-time high of $459.28. Market cap is $3.414 billion.
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