Stocks hit fresh highs as Wall Street anticipates a July rate cut

Business Insider Australia | Jul 12, 2019 at 4:31 PM
  • Stocks hit fresh intraday highs Friday as Wall Street held firm to expectations that the Federal Reserve would soon step in to support the economy.
  • The central bank has dimmed its outlook for the economy this year on the back of slowing global growth, below-target inflation, and trade tensions.
  • The probability of a half-percentage-point cut edged slightly higher on Friday, according to CME Group.