Stock Market News: Dow heads for longest winning streak since 1897

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 38 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 51%

Business News News

US stocks climb as the Dow heads for longest winning streak in 126 years

US stocks opened Thursday in the green as investors digested another rate hike from the Federal Reserve, better-than-expected GDP numbers for the second quarter, and prospects of a historic win-streak for the Dow Jones Industrial Average.

On Wednesday, policymakers announced a 25 basis-point rate hike, bringing the federal funds rate to a range of 5.25%-5.5% range. According to CME's FedWatch Tool, traders largely expect this to be the final adjustment of the year. Jerome Powell said that the central bank no longer expects a recession for the US economy. To that point, second-quarter gross domestic product clocked in higher than expected. Over the last three months, GDP, the sum of all goods and services activity, increased 2.4% annually, better than the consensus 2% Dow Jones estimate.

Meanwhile, should the Dow Jones Industrial Average stay positive through Thursday trading, it would mark the 14th consecutive winning day — the longest streak since 1897, per CNBC.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in BUSİNESS

Business Business Latest News, Business Business Headlines

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

Stock market news today: Dow notches its 12th straight winDow notches 12th straight win as US stocks rally ahead of Fed policy decision
Source: BusinessInsider - 🏆 729. / 51 Read more »

Stock market news today: Dow win streak at risk amid Fed meetingThe Dow's win streak is at risk as US stocks drop ahead of expected Fed rate hike
Source: BusinessInsider - 🏆 729. / 51 Read more »

Stock market news: Dow notches 13-day win streak, longest since 1987Dow notches longest winning streak since 1987 after latest Fed rate hike
Source: BusinessInsider - 🏆 729. / 51 Read more »

Stock Market Today: Dow Futures Edge Up as More Earnings Roll InLive coverage of what's moving stocks and other markets, including the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite
Source: WSJ - 🏆 98. / 63 Read more »

Stock market today: Dow ends win streak as financials, airlines weigh By Investing.com⚠️BREAKING: *WALL STREET CLOSES DOWN, DOW SNAPS LONGEST WINNING STREAK SINCE 1987
Source: Investingcom - 🏆 450. / 53 Read more »

Stock market news today: Stocks mixed as Fed begins 2-day meetingUS stocks trade mixed as the Fed begins its 2-day policy meeting
Source: BusinessInsider - 🏆 729. / 51 Read more »