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Dow, S&P notch record closes on dimmed rate hike prospects

Reuters 

By Kimberly Chin(Reuters) - The Dow and S&P 500 hit record highs on Friday after weak economic data dulled prospects of more interest rate hikes this year.A decline in financial shares limited the day's gains, even though JPMorgan Chase & Co and other big banks delivered quarterly results that beat Wall Street expectations.Data showed consumer prices were unchanged in June and retail sales fell for a second straight month, pointing to tame inflation and subdued expectations of strong economic growth in the second quarter."The data is pointing to this continuation of fairly accommodative ...

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First Published: Sat, July 15 2017. 02:25 IST
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