The Dow Jones Stock Average of the New York Stock Exchange reached its all-time high on Thursday, driven by the shares of UnitedHealth, following the testimony of the US Federal Reserve Chairman. UU. (Fed) Jerome Powell, who indicated that the most flexible monetary policy will be implemented at the end of this month.
The average of 30 shares has exceeded 27,000 points for the first time in its history, with an increase of 227.88 points, or 0.9% to 27.088,08. The Dow closed for the first time over 26,000 in January 2018.
The gains were largely driven by expectations that the Fed will cut rates, isolating the market from a slowing economy and a trade battle with China.
Microsoft was the Dow title with the best performances since the first closing of the index above 26,000, with an increase of about 50% at that time. Since then, Visa, Cisco Systems and Nike have also increased considerably.
Also the S & P 500 registered a near record, increasing by 0.2% to 2.9999.91. The S & P 500 reached its goal on Wednesday when it was quoted above 3,000 for the first time. The Nasdaq Composite fell 0.1% to 8.196.04 points.
(Adapted from CNBC)