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US markets open higher with Microsoft reaching record highs

2019-07-19 02:07 pm | Resource: News | No Views : 29

US markets open higher with Microsoft reaching record highs
 
Wall Street's main stock indexes were trading with Friday's gains and the Dow Jones industrial average jumped more than 100 points amid second-quarter earnings releases in which Microsoft, the world's most valuable publicly traded company, posted better-than-expected earnings, leading to all-time highs Before the bell. Investors were paying close attention to James Pollard's comments from the Fed and John Williams, where US President Donald Trump called for cutting interest rates.

Trump: Fed is wrong, interest rates should be cut

US President Donald Trump on Friday asked central bankers to "correct" their approach to interest rate policy. He continued to press the Federal Reserve to cut borrowing costs, although its officials have already drastically changed their bias this year. They have hinted at mitigation in order to help the economy through the uncertainty caused by underdeveloped inflation and trade conflicts between its administration and key partners.

 "Because of the wrong thinking we have for us in the Fed, we pay much higher interest rates than countries that are not economically matched," Trump wrote on Twitter, "in other words, our interest costs are much higher than other countries when they have to be lower ".

Trump supports Williams at 100% Fed rate cut

US President Donald Trump went to Twitter on Friday to attack the Federal Reserve for not cutting interest rates despite "almost no inflation". He claimed that the original comments by US Federal Reserve Chairman John Williams on interest rates were "100% correct" and insisted that there was no need to mitigate them.

Williams said in a speech on Thursday that policy makers need to "move quickly to reduce prices" in order to avoid a "disaster". However, the Fed in New York later claimed that the remarks were not a hint of a rate cut in July, but rather "an academic speech on 20 years of research."
  • The Dow rose 0.31% at 15:32 CET.
  • The Nasdaq 100 rose 0.53% at 15:32 CET.
  • The S & P 500 was trading 0.36% at 15:32 CET.

The Euro lost 0.48% at 9:33 CET. Trading against 1.12227 against the dollar. The pound was down 0.24% against the US dollar at 15:35 CET, trading fluctuated to 1.25155 and the greenback rose 0.38% to 107.6940 at 15:36 CET.


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