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S&P 500 hits 3,000 as Powell's comments raise rate cut bets

Reuters Wednesday, 10 July 2019 ()
The benchmark S&P 500 briefly crossed the 3,000 points mark for the first time on Wednesday, as bets for a sharp interest rate cut later this month were boosted by Federal Reserve chairman Jerome Powell's dovish comments.
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News video: Here's What to Know on Fed's Powell's Two Days With Congress

Here's What to Know on Fed's Powell's Two Days With Congress 01:43

Jerome Powell, chairman of the Federal Reserve can breath a sigh of relief now that he's finished answered pressing questions from Congress. But the market can breath, too, because it looks like it will get its rate cut. Here's what Powell said over the two days, and what the market implied actions...

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