that it will be the second to last, if not the last, interest rate increase, and that has been a major concern forA survey showed consumer confidence increased to a two-year high in July, amid continued optimism about the laborThe tech-heavy Nasdaq Composite index has rallied this year, helped by outsized gains in rate-sensitive megacap growth companies and hopes for an end to the U.S. Federal Reserve’s tightening cycle.The blue-chip Dow inched up for 13th day in a row, even as a 0.
The S&P composite 1500 passenger airlines sub index dropped 3.45 percent, bogged down by a 9.7- percent fall in Alaska Air after the airline’s annual revenue growth outlook missed expectations.The Dow Jones Industrial Average rose 26.83 points, or 0.08 percent, to 35,438.07, the S&P 500 gained 12.82 points, or 0.28 percent, to 4,567.46 and the Nasdaq Composite added 85.69 points, or 0.61 percent, to 14,144.56.
General Electric jumped 6.27 percent after raising its annual adjusted profit forecast, while General Motors slumped 3.51 percent after it posted a decline in adjusted pre-tax profit and margins in its key North American3M Co rose 5.33 percent as the industrial conglomerate raised its annual adjusted profit forecast.