All three major indexes posted record closing highs on Friday as firm expectations for an interest-rate cut from the Federal Reserve continued to propel shares while investors awaited next week’s kickoff of the corporate earnings season. The S&P 500 closed above the 3,000 level for the first time, with the industrial .SPLRCI, consumer discretionary .SPLRCD and materials .SPLRCM sectors each posting gains of at least 1%. In his two-day testimony before Congress, Fed Chairman Jerome Powell said the U.S. economy was still under threat from disappointing factory activity, tame inflation and a simmering trade war and ... (full story)