Dow sets record-high close; Fed signals gradual rate hikes

Record ID: 899379

  • Title: Dow sets record-high close; Fed signals gradual rate hikes
  • Date: 12th July 2017
  • Summary: LOS ANGELES, CALIFORNIA, UNITED STATES (JULY 12, 2017) (REUTERS) (SOUNDBITE) (English) GERBER KAWASAKI CEO, ROSS GERBER, SAYING: "The market really likes this sweet spot between growth and still not really a lot of inflation and with Yellen at the helm, we all feel pretty confident she's going to make the right decisions moving forward with the tapering - selling off the bonds the Fed has - as well as with interest rates."
  • Embargoed: 26th July 2017 21:28
  • Keywords: New York Stock Exchange NYSE closing bell markets
  • Location: NEW YORK, NEW YORK + LOS ANGELES, CALIFORNIA, UNITED STATES
  • City: NEW YORK, NEW YORK + LOS ANGELES, CALIFORNIA, UNITED STATES
  • Country: USA
  • Topics: Economic Events,Equities Markets
  • Reuters ID: LVA0026PEXHFX
  • Aspect Ratio: 16:9
  • Story Text: U.S. stocks rose on Wednesday (July 12), pushing the Dow to a record high close, after Federal Reserve Chair Janet Yellen said interest rates hikes would be gradual and rates will not have to rise much further to reach a neutral level.
    Based on the latest available data, the Dow Jones Industrial Average rose 123.72 points, or 0.58 percent, to 21,532.79, the S&P 500 gained 17.88 points, or 0.74 percent, to 2,443.41 and the Nasdaq Composite added 67.87 points, or 1.1 percent, to 6,261.17.
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2017. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: None
Register