US Stocks Hit Record Highs in Anticipation of Big Tech Earnings, Federal Reserve Meeting

NEW YORK (Sputnik) – Stocks on Wall Street prolonged report highs from final week, with all of the three primary indices hitting new peaks forward of a busy week of earnings from large tech corporations and updates on US financial coverage and second quarter financial efficiency.

The Dow Jones Industrial Average, the broadest US fairness barometer on the New York Stock Exchange, hit an all-time excessive of 35,150 earlier than closing at 35,144, up 83 factors or 0.2 % on the day.

The S&P 500 index, which teams the highest 500 shares on the New York Stock Exchange, closed at a report excessive of 4,415, up 11 factors, or 0.3 %.

The tech-heavy Nasdaq Composite peaked at 14,864 earlier than flat at 14,841. Nasdaq teams high-flying tech names together with Facebook, Amazon, Apple, Microsoft, Netflix and Google – all of that are to report second-quarter earnings this week.

The FOMC, or Federal Open Market Committee of the Federal Reserve, will maintain its July coverage assembly between Tuesday and Wednesday to resolve on rates of interest and different key financial issues.

The FOMC shouldn’t be anticipated to make any adjustments for July, though it might present extra particulars about when the central financial institution hopes to start tapering the month-to-month buy of $120 billion of bonds that it has been doing because the coronavirus pandemic started 16 months in the past.

On Thursday, traders will even get a primary take a look at the second-quarter US GDP, which is anticipated to point out the height of the post-pandemic restoration.



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