Dow Soars 700+ Points, S&P 500 Hits Record High
TL;DR Summary
The Dow Jones Industrial Average surged 742.76 points, or 1.85%, to a record high, driven by hopes of forthcoming interest rate cuts. The Russell 2000 small-cap index jumped over 3%, while the S&P 500 and Nasdaq Composite also saw gains. Financials and industrials led the rally, with significant contributions from Caterpillar and UnitedHealth. Traders are optimistic about a potential rate cut by the Federal Reserve in September, which is expected to benefit small caps and cyclical stocks.
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- Dow jumps 742 points, small caps celebrate USA trade Fox Business
- Dow and S&P 500 close at record highs as investors bet on September rate cut CNN
- Stock Market News: Dow Surges 700 Points Barron's
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