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US Stocks Climbing As Traders Bet On Rate-cut Hopes

Credit: Wochit News
Published on July 12, 2019 - Duration: 00:32s

US Stocks Climbing As Traders Bet On Rate-cut Hopes

Stocks climbed on Friday as the growing prospect of a cut to US interest rates this month outweighed renewed tensions in the US-China trade war, an unexpected contraction in Singapore, and uninspiring Chinese trade data.

Federal Reserve Chair Jerome Powell told Congress that the central bank is largely in agreement that "more accommodative monetary policy may be appropriate." However, Trump accused China of "letting us down" by not purchasing US agricultural products as promised.

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