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Wall Street touches new highs after comments by Fed's Powell

WorldNews Thursday, 11 July 2019 ()
Wall Street touches new highs after comments by Fed's PowellUS stocks ended higher and the S&P 500 index briefly crossed the 3,000-point mark for the first time on Wednesday as remarks by Federal Reserve Chairman Jerome Powell reassured investors about the potential for an interest rate cut later this month. The Dow also hit an intraday record and the Nasdaq closed at an all-time high following the release of prepared remarks for Powell's testimony before the US House of Representatives Financial Services Committee. Powell said the central bank stands ready to “act as appropriate”...
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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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