The Dow tops 27,000 for the first time after the Fed signals a rate cut is coming

Business Insider Australia | Jul 11, 2019 at 2:55 PM
  • Stocks jumped to fresh intraday highs on Thursday after the Federal Reserve signalled the central bank would soon step in to keep the economy humming.
  • Fed Chairman Jay Powell signalled in prepared congressional testimony that officials would slash interest rates on July 31, sending stocks to new intraday and closing highs a day earlier.
  • The probability of a half-percentage point cut edged slightly higher on Thursday, according to CME Group.