Wall Street reaches new heights as Powell hints at a rate cut
US markets registered gains yesterday after Fed Chair Powell testified before House Financial Services Committee, hinting that a rate cut could happen this month. As a result, the SPX500, NSDQ100 and DJ30 all reached record heights. Several stocks reached fresh all-time highs, including Microsoft, Disney, Oracle, Starbucks and Visa. Powell is scheduled to testify again today at 14:00 GMT, this time before the Senate Banking Committee.
Today’s highlights: Bitcoin shows double-digit losses
- US Congress hold marijuana legalization debate: The House Judiciary Subcommittee on Crime, Terrorism and Homeland Security yesterday debated softening marijuana laws in the US with many members of Congress calling for legalization. Cannabis stocks are set to benefit from such legalization and on eToro, investors can gain exposure to the market through the CannabisCare CopyPortfolio.
Stocks earnings releases on 12/07/2019
Earnings season returns: To follow upcoming earnings reports, go to eToro’s Earnings Reports Calendar. Please note that maximum leverage for CFD stocks will be limited to X5 one day ahead of earnings report releases. X10 leverage will be available again soon after the report is published.
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11/07/2019 appeared first on eToro.