S&P 500 and Nasdaq notch record highs; chipmakers climb

Quick Summary:

THE S&P 500 and Nasdaq notched record-high closes on Monday as investors awaited fresh inflation data, commentary from Federal Reserve Chair Jerome Powell and the start of quarterly earnings season.

Citigroup shares gained 1.1%, while Wells Fargo lost 1%.

Traders now see a greater than 75% chance of a rate cut of at least 25 basis points by September, up from last week's 60%, according to CME's FedWatch.

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Category: EconomyBusiness

Markets: Malaysia

Topics: NYSE Trading Wall Street Commodities Nasdaq Dollar Markets Dow Jones /Business/Business News

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-09 @ 08:23:00 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 485 words

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Sentences: 17 lines

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News ID: 21547144

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