For subscribers
Market Watch
Markets surge in anticipation of rate cuts
Sign up now: Get ST's newsletters delivered to your inbox
US Federal Reserve chairman Jerome Powell speaking to Congress on July 9.
PHOTO: AFP
Follow topic:
SINGAPORE - Global stock markets surged earlier in July to multi-year highs on bets that the United States Federal Reserve will cut interest rates in September.
On Wall Street, the Dow Jones index rose 1.6 per cent for the week to settle close to a record at 40,000.9, while the S&P 500 gained 0.9 per cent to 5,615.35 points. The tech-heavy Nasdaq edged 0.25 per cent higher for the week to 18,398 points.
