Stocks jumped as traders have priced a 100% probability of a Fed rate cut in July, according to the CME Group’s FedWatch tool. A stronger-than-expected June jobs report tempered expectations for a more aggressive easing.

The S&P 500 was up 0.5% after rising 0.7% to break above 3,000 for the first time as the energy and tech sectors outperformed. The Nasdaq also hit an all-time high, rising 1% before slipping back to trade 0.7% higher. The Dow was up 85 points, also off session highs, led by Chevron and American Express.

Amazon shares rose 1.2% and broke above $2,000 per share. FedEx shares climbed more than 1% after Goldman Sachs added them to their conviction buy list.

In prepared testimony to the House Financial Services Committee, Powell said business investments across the U.S. have slowed “notably” recently as uncertainties over the economic outlook linger.

By admin

PennyStockPlay is committed to providing our members with the most informative and accurate penny stock trading information available on the Internet today. The team at PennyStockPlay is dedicated to turning even the most novice trader into a seasoned one. No one can guarantee gains, and if they do they are lying. There is always a minimum level of risk, as small as it can be, it is still present. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost, and current performance may be lower or higher than the performance quoted. We believe that the well-educated investor is a wealthy one, so subscribe to our newsletter by entering your email address in the opt-in box below and let us help you build a stock portfolio that will be the envy of all of your peers!