PT Solid Gold Berjangka | Wall St Jumps As Softer Producer Prices Data Boosts Rate Optimism
MARKET UPDATE PT SGB SOLID GROUP SG BERJANGKA SOLID GOLD BERJANGKA
Solid Gold Berjangka | U.S. stocks rose to their highest level in nearly two weeks on Tuesday as producer prices softened and speculation of a September interest rate cut by the Federal Reserve increased.
Mega-cap and growth stocks rallied, with NVIDIA rising over 5% for a second day. The Philadelphia SE Semiconductor Index rose 2.8% to its highest in nearly two weeks.U.S. producer prices fell short of expectations in July, indicating that inflation remains moderate as price increases were moderated by cheaper services; PPI for the 12 months through July rose 2.2% after a 2.7% rise in June.
The probability of a 50 basis point rate cut by the U.S. central bank rose to 55% from below 50% before the report, according to the CME’s Fedwatch tool.As of 11:44 a.m. EDT, the Dow Jones Industrial Average was up 213.87 points, or 0.54%, at 39,570.88, the S&P 500 Index was up 57.83 points, or 1.08%, at 5,402.22, and the Nasdaq Composite Index was up 294.92 points, or 1.76%, at 17,075.53.
Source Reuters