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Rate-cut euphoria elevates S&P 500 to record high
The S&P 500 index touched a record high on Thursday, driven Wall Street’s expectations that the Federal Reserve will cut interest rates as soon as next month to keep the U.S.-China trade war from stalling economic growth. video The U.S. central bank left rates unchanged at the end of its two-day policy meeting on Wednesday, but pledged to “act as appropriate” to sustain economic health. Wall Street’s main indexes have gained in recent weeks on expectations of a rate cut and hopes of a revival of trade talks between the United States and China at the Group of 20 meeting next week in Japan. The benchmark S&P ... (full story)