During today's Turkish central bank meeting, the market anticipated a rate cut between 200-300 pips.
Tech stocks lead Wall Street surge
On Wednesday, the S&P 500 as well as the Nasdaq reached record maximums for the fourth straight session in a surge led by technology businesses because market sentiment was backed by optimism over everlasting trade talks.
Apple Inc led the technology sector's jump because the iPhone maker's equities reached an all-time maximum. The sector pushed all three key American indexes up.
Besides this, the FAANG group of momentum equities was also boosted by Morgan Stanley's price target leaps for Amazon.com as well as Alphabet Inc. The remaining FAANG equities, Netflix Inc and Facebook dived a bit.
The Commerce Department uncovered its second reading of second-quarter GDP, disclosing that the American economy rallied at an upwardly-updated annual rate of about 4.2% in the quarter, which is its best performance for almost four years.
Moreover, the Dow Jones Industrial Average rallied by 0.21% hitting 26,119.37. As for the S&P 500, it managed to jump by 0.49% showing 2,911.83. The Nasdaq Composite soared by 0.84% coming up with 8,097.58.
Of the 11 key sectors of the S&P 500, 7 found themselves in positive territory. As for the largest percentage profits, they were observed in the consumer discretionary as well as technology sectors.
By the way, consumer discretionary equities were boosted by Amazon.com's 3% jump.
Restaurant operator Yum China Holdings Inc managed to extend its surge. It added 5.2% having rejected a $17.6 billion buy-out bid from China’s consortium.
The equities of American Eagle Outfitters Inc went down by 7% having posted gloomy second quarter outcomes.
As for other specialty apparel retailers, they inched down too.
On the NYSE, advancing issues managed to outclass diving ones by a 1.68-to-1 ratio.
The S&P 500 reported 58 fresh 52-week maximums as well as 1 fresh minimum. The Nasdaq Composite demonstrated 101 fresh maximums and 20 new minimums.
More tariffs were introduced
Yesterday, the US Justice Department announced a broad antitrust review ...
Today, the election in Canada will determine whether the Liberal Party Prime Minister Justin Trudeau or the Conservative Party leader Andrew Scheer will lead the government…
The week will bring us fresh updates on Brexit and the last ECB meeting with outgoing president Mario Draghi.
De-escalation between the US and Turkey and News for the GBP are on the agenda