The average value of Dow Jones shares on the New York Stock Exchange rose to its highest level on Thursday, led by UnitedHealth shares, as reported by the US Federal Reserve Chairman. UU. (Fed) Jerome Powell, who pointed out that a freer monetary policy would be implemented later this month.
The average of 30 shares exceeded 27,000 points for the first time in its history, rising by 227.88 points, or by 0.9% to 27,088.08 points. Dow first sealed over 26,000 in January 2018.
Profits are mainly due to expectations that the Fed will cut interest rates, seizing the market from the slowing economy and the trade battle with China.
Microsoft was Dow's share with the best performance since the first closing of the index over 26,000, with an increase of about 50% at that time. Visa, Cisco Systems and Nike have also increased significantly since then.
The S & P 500 also recorded a record growth, increasing by 0.2% to 2,999.91. The S & P 500 achieved its own milestone on Wednesday when it first cited over 3000. Nasdaq Composite fell 0.1 percent to 8,196.04 points.
(Taken from CNBC)