US STOCKS-Wall Street higher on trade optimism, rate cut hopes

US STOCKS-Wall Street higher on trade optimism, rate cut hopes

(For a live blog on the U.S. stock market, click or type LIVE/ in a news window.) * Dow set for seventh straight days of gains * China stimulus, Mexico tariff relief helps mood * United Technologies, Raytheon weigh on industrials * Symantec falls on Morgan Stanley downgrade * Indexes up: Dow 0.29%, S&P 0.30%, Nasdaq 0.37% (Updates prices, changes comment) By Aparajita Saxena and Shreyashi Sanyal June 11 (Reuters) – Wall Street’s main indexes rose and the S&P 500 edged back toward record territory on Tuesday, as easing trade tensions with Mexico and hopes of an interest rate cut by the Federal Reserve lifted investor sentiment. Optimism over President Donald Trump’s decision late on Friday to hold off import tariffs on Mexico has helped markets this week, even though the United States warned it would impose tariffs if its demands were not satisfied. The benchmark S&P 500 index is now just about 2% away from its early May record high and the Dow Jones Industrial Average is set to rise for the seventh straight day, its longest winning streak in 13 months. Market is betting on an interest rate cut in July and two more this year as Trump’s hard bargaining on trade with Beijing and others could push the economy back into recession. Meanwhile, U.S. producer prices increased solidly for a second straight month in May, in line with expectations of economists polled by Reuters, pointing to a steady pickup in underlying inflation pressures. “Investors are looking […]

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