By Medha Singh
(Reuters) – Dow Industrials crossed 27,000 points for the first time, and the S & P 500 was close to record highs on Thursday, lifted by technology and healthcare stocks, and increased efforts with a Fed rate cut [Fed] 19659003] Cigna Corps (N 🙂 and UnitedHealth Group Inc (N 🙂 jumped 13.74% and 4.74%, while drug distributors like McKesson Corp (N) 🙂 rose 3.85% after the Trump administration drew a rule to eliminate drug amounts from Medicare's health plans.
The Health Index (), which is the worst executive S&P sector this year, rose 0.29%.
Powell, who began his second day of testimony before Congress, had said the central bank was ready to "act as appropriate" to support record economy growth in the United States.
"Should the money minister fend off real weak growth or recession, or is there an insurance cut moving?" said Peter Cardillo, market economist at Spartan Capital Securities in New York. "If at last, the market can continue its rally. If not, we will have a revenue problem."
At 09:54 ET, the Dow Jones Industrial Average () was 1
Technology () shares rose 0.30% to the three main indices.
Delta Air Lines Inc (N 🙂 rose 1% after reporting an increase in quarterly earnings of 39.3%, as the carrier benefited from higher prices and flying full aircraft. This comes a day after American Airlines Group Inc (O 🙂 raised its estimate for second-quarter unit revenue. The S&P 1500 airline index rose 0.37%.
A report by the Ministry of Labor showed that US underlying consumer prices increased the most in almost 1-1 / 2 years in June, but it was unlikely to change expectations that the Fed would cut rates this month.
Advances problems beyond decliners with a 1.33 to 1 ratio on the NYSE. The decline rate is a prerequisite for a 1.01 to 1 ratio on Nasdaq.
The S&P index recorded 24 new 52-week highs and three new downs, while Nasdaq recorded 45 new heights and 12 new downs.
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