Wall Street bullish with Dow Jones again at record highs – The Economic Journal


The three major stock indexes in New York remain bullish because the testimony of the US Federal Reserve chairman in Congress is being viewed by the market as a sign of a cut in interest rates.

Jerome Powell, the Fed chairman, has twice told Congress to make statements this week. If he said on Wednesday that the growth of the US economy is threatened by the "persistent risk" of inflation and other external situations – such as Brexit or the trade war with China – on Thursday Powell revealed that the Fed would "act properly."

This Friday, the S & P 500 closed at record highs, valuing 0.44% during the session, to 3,013.12 points. The same happened with the Dow Jones industrialist who, having first surpassed the 27,000 mark, is now at 27,332.10 points, after a 0.90% increase. The Nasdaq also posted a positive session, reversing yesterday's losses, gaining 0.59% to 7,943.24 points.

In companies, highlight the titles of Ford. The North American construction company and Volkswagen have announced that they will join forces in the development of autonomous vehicles and electric cars. Ford rose 2.65%.

In raw materials, Brent's barrel, benchmark for the European market, rose 0.42% to $ 66.80. In the US, West Texas Intermediate remains almost unchanged, valuing 0.03%, trading at $ 60.22.



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