Wednesday, 17 July 2024: Value stocks begin to gain momentum
Jul 16, 2024 ·
6m 29s
![Wednesday, 17 July 2024: Value stocks begin to gain momentum](https://d3wo5wojvuv7l.cloudfront.net/t_square_limited_480/images.spreaker.com/original/cd28525abfd602a496c37176cbece14f.jpg)
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Description
US equity markets rallied as the rotation into value stocks, which have underperformed their growth peers and the broader S&P 500, gained momentum amid building expectations of interest rate cuts...
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US equity markets rallied as the rotation into value stocks, which have underperformed their growth peers and the broader S&P 500, gained momentum amid building expectations of interest rate cuts - Dow rallied +743-points or +1.85% to a fresh record closing high of 40,954.48, booking its largest one-day percentage gain since June 2023, and largest daily point gain since November 2022, according to Dow Jones Market data. The Dow Jones transportation average (up +3.28% at 16,298.98) outperformed the broader indexes, logging its biggest one-day percentage gain since November and reaching its highest closing level since August 2023 as investors increasingly focused on undervalued areas of the market. Caterpillar Inc (up +4.28%) and Boeing Co (+3.87%)
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Information
Author | Morgans Financial Limited |
Organization | Morgans Financial Limited |
Website | - |
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