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Wall Street rally to continue after record closing



The resumption of trading on Wall Street is expected to continue on Friday after the closing of two of the highest stock indexes with records.

The Dow Jones Industrial Average, which closed for the first time above 27,000 on Thursday, tended to increase by 85 points at the opening. The S & P 500, which had also closed at a record level, has slightly advanced in futures trading, while the Nasdaq should open 24 points.

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Investors remain optimistic that the Federal Reserve will cut interest rates at the end of July, after President Jerome Powell did the same during his two-day hearing on Capitol Hill.

"The markets are responding to what Powell is actually confirming what futures markets are already telling us," said Randy Frederick, vice president of trading and derivatives at Charles Schwab & Co.

At the same time, the shares of leading pharmacy benefit managers, such as CVS Health and UnitedHealth Group Inc., are expected to continue to rise after the Trump administration has abandoned the effort to eliminate drug rebates granted by drug manufacturers to intermediate price negotiators.

TeleprintersecurityLatestChange% Chg
CVSCVS HEALTH CORPORATION57.972.59+ 4.68%
THISCIGNA CORPORATION175.3414.83+ 9.24%
A HUNITEDHEALTH GROUP INCORPORATED261.1613.68+ 5.53%

The second quarter earnings season really begins next week with major banks such as JPMorgan Chase and Wells Fargo, which release their results for the three months to June.

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Thursday, Delta Air Lines announced earnings above expectations, fueled by the rise in premium ticket sales, the first airline to report profits after the grounding of the Boeing Max. The Atlanta-based carrier, however, does not have planes in its fleet.


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