Stock market today: Dow, S&P 500 build on records as a retail sales surprise fuels rate cut hopes

US stocks opened higher on Tuesday, as investors assessed big bank earnings and a retail sales surprise amid growing conviction an interest-rate cut is near. The Dow Jones Industrial Average rose roughly 0.5% shortly after the opening bell, after the blue-chip index topped 40,000 to notch an all-time closing high. The S&P 500 and tech-heavy Nasdaq Composite were each up more than 0.3% on the heels of their own daily wins.

More broadly, stocks are holding onto gains after chair Jerome Powell signaled the Federal Reserve is gearing up to start lowering rates soon, given recent solid inflation prints. Retail sales came in flat but better than expected in June, data out Tuesday showed, adding to the easing in price pressures that have boosted faith in a September cut — a prospect that has already wakened wider bullishness for stocks beyond techs.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Stock futures steady as S&P 500, Nasdaq try to build on recordsA consequential week that could provide key signals for the near-term path of interest rates.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: S&P 500, Nasdaq hover near records as Nvidia becomes most valuable stockTechs are continuing to lead an AI-driven rally that investors simply can't afford to miss out on.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stocks mixed at open: Dow dips, S&P 500 rides record highStocks open Monday's session mixed: the Dow Jones Industrial Average (^DJI) dipping as the S&P 500 (^GSPC) and the Nasdaq Composite (^IXIC) make more moves...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »