New York – S&P 500, Dow Hit Record High At Open On Hopes Of Rate Cut

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    Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., July 1, 2019. REUTERS/Brendan McDermidNew York – The S&P 500 and Dow indexes hit a record high at the open on Friday, after Federal Reserve Chairman Jerome Powell’s dovish remarks this week boosted bets of an interest rate cut this month.

    This marks the third time the S&P 500 < .SPX> has hit an all-time high this week, and traded above the 3,000 level.

    The Dow Jones Industrial Average < .DJI> rose 51.41 points, or 0.19%, at the open to 27,139.49.

    The S&P 500 < .SPX> opened higher by 3.45 points, or 0.12%, at 3,003.36. The Nasdaq Composite < .IXIC> gained 13.16 points, or 0.16%, to 8,209.20 at the opening bell.

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