The S&P 500 hit a record high on Thursday. It has likely received a boost, in part, by expectations that the Federal Reserve will cut interest rates as soon as next month to keep the US-China trade war from stalling economic growth.
The S&P 500 peaked over 2,958 and closed at 2,954.18 on Thursday.
Among the 11 major S&P sectors, the energy index increased the most at 2.21%, as oil prices surged as much as 6% after Iran shot down a US military drone.
All 11 S&P 500 sector indexes saw gains for the session after the Federal Reserve left rates unchanged, but signaled it was ready to cut interest rates as early as next month, pledging to “act as appropriate” in order to sustain growth.
The S&P 500, has increased around 7% this June, and closed above its previous record high close of 2,945.83 on April 30.
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