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Tailwind on Wall Street – new record

» Updated: 16 July 2024, 13:51

» Published: 15 July 2024

Tailwind on Wall Street – new record
Photo: Richard Drew/AP/TT

The New York Stock Exchange continued its upward climb during the week's first trading day, seemingly without negative impact from the weekend's attack on former President Donald Trump.

The Dow Jones industrial index rose 0.5 percent and thus reached a new record level. The broad S&P 500 index climbed 0.3 percent and the technology-heavy Nasdaq composite index rose 0.4 percent.

Investors were pleased with expectations that US inflation will slow down enough to convince the central bank Federal Reserve to soon lower interest rates.

Among Monday's winners were several companies that can be expected to benefit if Donald Trump were to be elected president in the US in the autumn election. For example, Trump Media & Technology Group, which is behind Trump's social media platform Truth Social, rose 31 percent.

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By TTThis article has been altered and translated by Sweden Herald

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