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S&P 500 notches 15th record of 2019 as Fed cuts rates a third straight time


Thursday, 31 October 2019 03:27 WIB

Standard & Poor's 500Saham AS


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U.S. equity benchmarks on Wednesday finished near their best levels of the session and the S&P 500 closed at an all-time high--its second of the week-- after the Federal Reserve cut interest rates a third consecutive time and signaled it may hold off on further cuts unless the economic backdrop worsens.

The Federal Open Market Committee cut benchmark interest rates a quarter point to a range of 1.5% to 1.75%, from 1.75% to 2%. The S&P 500 index closed up nearly 10 points, or 0.3% at 3,047, marking its second record this week and its 15th of 2019, according to Dow Jones Market Data. The Dow Jones Industrial Average closed up 115 points, or 0.4%, at 27,187, not far from its all-time peak, while the Nasdaq Composite Index finished the session up 0.3% at 8,304, also a stone's throw from a record close.

Source: Marketwatch


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