Morning Report 11 Jul 24: Wall St surges to new record highs

US sharemarkets rose to new record highs on Wednesday. Fed Chair Powell's second day of updating lawmakers on Capitol Hilll about the state of the economy deviated little from the prepared remarks delivered a day earlier, leaving intact the market's belief there is a 75% chance the Fed will be cutting interest rates in September. The encouraging outlook for rates pushed mega cap tech names higher; Nvidia +2.7%, Advanced Micro Devices & Micron Technology +4%. Apple shares rose to a record high, gaining 1.8% on reports the group plans to ship at least 90 million iPhone 16 devices in the latter half of this year, marking a 10% increase sales of new phones & pointing to improved demand for its devices. The Dow Jones index rose 429 points or 1.1%, the S&P 500 index gained 57 points or 1% and the Nasdaq index improved by 218 points or 1.2 %.
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[@Rodrickharvin]

Right

[@unclenick1968]

Up, Up and Away!

[@ballaratevil6048]

I wonder if things get better as they used to.