Stocks rise Thursday, attempting to build on gains scored a day earlier after Federal Reserve Chairman Jerome Powell reinforced expectations for a rate cut...
U.S. stocks were slightly higher midday Thursday, attempting to build on gains that saw the Nasdaq Composite index end in record territory on Wednesday after Federal Reserve Chairman Jerome Powell reinforced expectations for an interest rate cut later this month.
The S&P 500 was trading above its July 3 closing record high of 2,995.82, after seeing a new intraday high on Wednesday, while the Dow was trading above its July 3 record close of 26,966. An important reading of consumer price inflation rose 0.1% in May, versus a 0.2% rise expected by economists polled by MarketWatch, with the core CPI, which strips out volatile food and energy prices, rising 0.3%, above the consensus expectations of 0.2%, and the fastest monthly gain since January of 2018.
Mexico is doing great at the Border, but China is letting us down in that they have not been buying the agricultural products from our great Farmers that they said they would. Hopefully they will start soon! Which stocks are in focus? Cigna CI, +10.63% and CVSHealth CVS, +4.76% were up following news the Trump administration is dropping a plan to curb rebates that drug manufacturers pay to pharmacy-benefit managers such as Cigna’s Express Scripts.
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