Wall Street back in record breaking territory
(MENAFN- ProactiveInvestors - Australia)
U.S. equities gained overnight after data pointed to a lessened risk of a September rate hike.
The NASDAQ delivered an all-time closing high, adding 0.5% to 5276. The Dow Jones added 0.2% to 18,536, while the S & P 500 climbed 0.3% to 2186.
Data
The closely-watched report from the Institute for Supply Management showed that the growth in the U.S. services sector declined in August to the lowest level since February 2010.
The probability of a Sept 21 Fed rate hike has diminished to 24% from 32% on Friday, although that";s just based on the tradeable Federal funds rate. Rates could still be hiked if the FOMC determines that other factors are conducive.
Commodities
New York gold added 2% to US$1354 an ounce. <
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