Wall Street hits new highs, gold also reaches record territory, driven by Fed rate cut bets.

From Investing.com: 2024-07-17 06:27:00

US equities hit new highs as investors bet on a rate cut and a soft landing for the economy, despite lingering concerns about Trump’s trade policies and geopolitical risks. The Fed is expected to cut rates soon, with hopes of tax cuts and deregulation under a potential second Trump term. The Dow Jones soared to a record high, while the Russell 2000 rallied. Gold also reached a new peak as US yields fell. In the FX market, the Pound edged up on CPI data, while the Kiwi received a boost, with gold hitting record territory. Fed rate cut bets and global uncertainties continue to drive market sentiment.



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