New York – The S&P 500 and Dow indexes hit a record high at the open on Friday, after Federal Reserve Chairman Jerome Powell’s dovish remarks this week boosted bets of an interest rate cut this month.
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This marks the third time the S&P 500 < .SPX> has hit an all-time high this week, and traded above the 3,000 level.
The Dow Jones Industrial Average < .DJI> rose 51.41 points, or 0.19%, at the open to 27,139.49.
The S&P 500 < .SPX> opened higher by 3.45 points, or 0.12%, at 3,003.36. The Nasdaq Composite < .IXIC> gained 13.16 points, or 0.16%, to 8,209.20 at the opening bell.
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