S&P 500 hits record high on hopes of trade deal, rate cut
Monday, 28 October 2019 23:18 WIB | MARKET UPDATE |saham A.S Standard & Poor's 500

Technology stocks pushed the benchmark S&P 500 index to an all-time high and the Nasdaq close to its record level, as a possible U.S.-China trade deal and rising bets on a third rate cut by the Federal Reserve fueled optimism.

Shares of Microsoft Corp gained more than 2% and provided the biggest boost to all three main indexes after the technology giant won the Pentagon™s $10 billion cloud computing contract, beating Amazon.com Inc.

The S&P 500 rose as much as 0.7% to 3,044.08, breaching the record level hit in July, while the Nasdaq was less than 0.5% below its all-time high. The Dow Jones Industrial Average was more than 1% away from its life high.

Source: Marketwatch

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