7/3/2019, 6:56 PM (Source: TeleTrader)
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Dow, Nasdaq 100 close at all-time highs

Markets in the United States extended gains during a shortened trading session ahead of the 4th of July holiday on Wednesday with the Dow Jones Industrial Average and Nasdaq 100 closing at all-time highs. Stocks were boosted by expectations the US Federal Reserve could cut interest rates later this month after the release of worse-than-expected economic data. Earlier, the US Bureau of Economic Analysis said the US trade deficit increased to $55.5 billion in May amid trade tensions with Mexico and China. Meanwhile, White House trade advisor Peter Navarro claimed markets "should be happy" that the US-China trade negotiations are "back on track."

The Dow Jones jumped 0.67% or 179 points to hit a record high of 26,966. The best performer was Procter & Gamble, whose stock climbed 2.33%.

The Nasdaq 100 surged 0.74% to secure an all-time high of 7,857.69 points. The S&P 500 rose 0.77%. Symantec led the gains on both indexes as its stock soared 13.57%.

The euro dipped 0.04% against the dollar to sell for 1.12809 at 1:14 pm ET.

Breaking the News / NP