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| Name | Morning Report 17 Jul 24: Dow notches record closing high, small caps surge on rate cut bets |
| Video Uploader | Video From CommSecTV |
| Upload Date | This Video Uploaded At 16-07-2024 23:42:34 |
| Video Discription | US sharemarkets rose on Tuesday, as the bull market broadened out beyond technology names on investor hopes of forthcoming interest rate cuts. The Dow Jones index led gains, hitting a new intraday record high. Industrial bellwether Caterpillar climbed 4.3%. Insurer UnitedHealth surged 6.5% on the back of better-than-expected second quarter results. Financials rose 1.2% after earnings from Bank of America and Morgan Stanley came in ahead of analyst forecasts. Bank of America jumped 5.4%, while Morgan Stanley added 0.9%. Economically sensitive small caps extended their rally. The Russell 2000 index posted a fifth straight day of gains greater than 1%, its longest winning streak since April 2000. The index ended up 3.5%. But megacap growth stocks, led by Nvidia and Microsoft, weighed on the tech-heavy Nasdaq index, each falling between 1% and 1.6%. Visit CommSec’s Market News hub: https://www.commsec.com.au/market-news/the-markets.html Follow us on Twitter: http://www.twitter.com/commsec Follow Us On Instagram: https://www.instagram.com/commsec Subscribe to CommSecTV: https://www.youtube.com/user/CommSecTV |
| Category | News & Politics |
| Tags | ASX | AUD | Aussie Dollar | Australian Shares | CommSec | Currency | Dow Jones | Investing | Market Insights | Market Update | Nasdaq | Online Broking | Online Share Trading | Online Trading | Tom Piotrowski | Wall Street | stocks |
