Wall Street continues to experience a series of memorable days, with the bulls riding the rally with increasing confidence, certain that the Federal Reserve will begin cutting interest rates in September.
Fed futures currently indicate a 100% probability that policymakers will cut interest rates in two months, according to the CME Group‘s FedWatch tool.
The Dow Jones Industrial Average surged to 40,800 points at 12:30 p.m. ET, up 1.5%, marking its best session since late May. Sector-wise, industrials rose 2.1%, eyeing the strongest one-day gain since October.
The S&P 500 increased marginally by 0.3%, while tech stocks in the Nasdaq 100 slipped by 0.4%, as the rotation from large-cap tech to small-cap and cyclical laggards continues.
Oil prices dropped to $80 a barrel, down 1%, heading for the lowest close in nearly a month.
Bitcoin (CRYPTO: BTC) fell by 0.5%, on track to snap a four-day losing streak.
Chart of The Day: Blue-Chip Stocks Achieve All-Time Highs
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Tuesday’s Performance In Major U.S. Indices, ETFs
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Tuesday’s Stock Movers
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