Wall Street higher in premarket on rate cut hopes

Thursday, 11. July 2019 10:30

United States stocks rose in premarket trading on Thursday after Federal Reserve Chairman Jerome hinted at the possibility of an interest rate cut later in the month during his testimony to the House Financial Services Committee on Wednesday. Investors were also buoyed by reports which suggested that the White House was considering suspending some sanctions against North Korea if the latter were to agree to dismantle its Yongbyon Nuclear Scientific Research Center and halt its nuclear program. In other news, US economic data including initial jobless claims was due to be released before the opening bell.

The Dow Jones Industrial Average rose 0.17%, the Nasdaq 100 was up 0.24% and the S&P 500 gained 0.19%, all at 4:29 am ET.

The euro added 0.20% against the dollar to sell for 1.1274 at 4:29 am ET while the British pound jumped 0.25% compared to the greenback to go for 1.2536 at the same time.

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