US indexes make a tepid advance as stocks recover from last week’s slide. Note, however, that an all-time-high for the S&P 500 is within reach as early as this week should indexes continue to limb. The last S&P 500 high of 3,027.98 was set on July 26.
Despite ongoing concerns of a slowdown in global growth and a Goldman Sachs report that corporate spending overall has plummeted, the Q3 earnings reporting season to date has been turning out better than expected.
Expectations of another 25-basis point Fed rate cut among market participants has increased to around 91%. Overall, optimism is high in the market.
The Dow rose 57.44 points, or 0.2%, the S&P 500 climbed 0.7%, and the Nasdaq advanced 0.9%.
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