Technology shares propelled U.S. stocks to all-time highs after Alphabet posted strong results and a jump in Gross Domestic Product failed to deter expectations that the Federal Reserve will cut Interest Rates this week. The Euro traded at a two-year low. The S&P 500 and Nasdaq Composite Indexes hit fresh records as Twitter and Google-parent Alphabet rallied after their sales beat estimates, though Amazon slid on lower-than-forecast earnings. The second-quarter GDP report came in the wake of Thursday’s European Central Bank meeting, where Mario Draghi failed to deliver the dovish signals investors sought. Stocks are hitting all-time highs based on the fact that the GDP report was better than expected and earnings continue to come in better than expected. But you also can see that as rates continue to stay low, people are looking to the Fed to cut.
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