Dow Jones Hits Record High as Fed Rate Cut Hopes Rise | UnitedHealth Leads Gains

Dow Jones blue-chip index and the UnitedHealth soared when Berkshire Hathaway increased its shareholding position in the health insurer and on the anticipation of interest rate cut by the Fed in September, a record high was reached by the index on Friday.

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Entering the trading session, Dow Jones Industrial Average was up 248.7 points (0.55 percent) at 45,159.91 at the bell. S&P 500: The S&P 500 moved up by 8.8 points or 0.14 percent to 6,477.38​. The Nasdaq Composite fell by 1.3 points or 0.01 percent to 21,709.336.

On Friday, US stocks traded in a mixed manner as the Wall Street took balance its hope of rate cuts amid new data this week on the economic sphere revealing increase in wholesale prices during the month and a gain in retail sales in July. Traders also were awaiting the meeting on Friday between President Trump and Vladimir Putin seeking guidance as to how the meeting may affect the markets.

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An increase in retail sales of 0.5 percent in July compared with the previous month was reported in US Census Bureau data published on Friday morning. It was below the 0.6 percent rise projected by economists, but nonetheless considered to be a healthy step forward following a steep decline in consumer outlays this spring.

In the interim, the US consumer sentiment declined in August, the initial decrease in four months, with the inflation expectations surging in the longer-term.

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