Monday, June 10, 2019– Stocks registered a four day string of solid gains to put the finishing touches on the best week of 2019. The S&P 500 Index had its best week of the year, ending within 3% of its all-time high, while the Dow Jones Industrial Average escaped its longest weekly losing streak since 2011. Much of the week’s gains came Tuesday, which marked the best daily performance for the major benchmarks so far this year. The catalyst appeared to be remarks from Federal Reserve Chairman Jerome Powell at a central bank conference, in which he pledged that policymakers were paying close attention to the impact of trade tensions on the economy and would act as appropriate to sustain the expansion. This anticipation of the Fed cutting interest rates later this year helped stocks move higher at the end of the week. All major sectors rose on the week, led by a surge in Basic Materials and in Technology. The Dow Jones Industrial Average rose 263 points to 25,984, the S&P 500 Index increased 30 points to 2,873 and the Nasdaq Composite gained 127 points to 7,742.
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