Wall Street opens higher after data, Dow hits record high

Thursday, 11. July 2019 15:30

Stock markets in the United States started the Thursday's trading session higher ahead of the Federal Reserve Chairman Jerome Powell's second testimony in front of the House Financial Services Committee. Yesterday, Powell strongly signaled that an interest rate cut may be coming in order to sustain the current economic expansion. On data front, the Department of Labor reported core consumer price inflation rose to 2.1%, while the initial jobless claims for the week ending July 6 decreased by 13,000.

The Dow Jones Industrial Average increased 0.37% at 9:30 am ET, hitting an intraday high as Walgreens Boots Alliance Inc. advanced 2.03% at 9:44 am ET. The Nasdaq 100 grew 0.20%, with NVIDIA Corp. gaining 2.52%. At the same time, the S&P 500 rose 0.24%, with Cigna surging 11.84% at 9:46 am ET.

The euro was flat against the dollar to change hands for 1.12557 at 9:40 pm ET while the British pound jumped 0.36% compared to the greenback to go for 1.25495 at the same time.

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Author:
Breaking the News / MD