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Dow Futures Suggest Fresh 2019 Highs as Fed Rate Signal Boost Global Stocks

Martin Baccardax

Global stocks rally as both the Fed and the Bank of Japan cite slowing growth and downside risks in signalling near-term rate cuts. Fed Chairman Powell defies Trump by holding rates steady, but primes market for multiple rate cuts between now and the end of the year. Global oil prices surge on reports of a U.S. military drone shot down by an Iranian missile near the Strait of Hormuz.