Dow closes at record high after successful GOP convention and strong economic data

From NBC News: 2024-07-15 16:54:46

The Dow Jones Industrial Average moved higher on Monday as investors anticipated gains for the GOP following an unsuccessful assassination attempt on former President Trump. The S&P 500 and Nasdaq also reached new highs, with small-cap shares and banks rising. The Republican National Convention began, with Trump leading Biden in national polls. Insurers Humana and UnitedHealth Group saw gains. The Russell 2000 hit its highest level since 2022, with Goldman Sachs predicting small caps could outperform in a second Trump term. Goldman Sachs reported earnings that surpassed expectations, while over 40 S&P 500 companies are set to report second-quarter earnings. Federal Reserve Chair Jerome Powell stated the central bank may lower interest rates before inflation reaches 2%.



Read more at NBC News: Dow rises 200 points to close at a record