Wall St. notches record highs on Fed rate-cut expectations

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Wall St. notches record highs on Fed rate-cut expectations

Numbers showing the rise of the Dow Jones Industrial Average above 27,000 are displayed on a screen above the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., July 12, 2019. REUTERS/Lucas Jackson

NEW YORK (Reuters) – All three major indexes posted record closing highs on Friday as solid expectations for an interest-rate cut from the Federal Reserve continued to propel shares while investors awaited next week’s kickoff of the corporate earnings season.

The Dow Jones Industrial Average .DJI rose 243.82 points, or 0.9%, to 27,331.9, the S&P 500 .SPX gained 13.79 points, or 0.46%, to 3,013.7 and the Nasdaq Composite .IXIC added 48.10 points, or 0.59%, to 8,244.14.

Reporting by Caroline Valetkevitch; editing by Jonathan Oatis