Wall Street continues to experience a series of memorable days, with the bulls riding the rally with increasing confidence, certain that the Federal Reserve will begin cutting interest rates in September.
Fed futures currently indicate a 100% probability that policymakers will cut interest rates in two months, according to the CME Group‘s FedWatch tool.
This time, blue-chip stocks and gold are stealing the spotlight by breaking their all-time highs, while small caps, as tracked by the iShares Russell 2000 ETF (NYSE:IWM), have posted their fifth consecutive day in the green, marking their best five-day rally in over four years.
The Dow Jones Industrial Average surged to 40,800 points