USA500 reaches above 5000.00

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Source: Dukascopy Bank SA


The top 500 US stock company index has extended its spectacular surge. The US stocks started Friday's trading at the $5000.00 mark.

The index has gained more than 20.00% since it bottomed near $410.00 in late October.

The surge initially was attributed to the expectations of upcoming interest rates cuts. However, the central bank of the United States has confirmed that rate cuts are unlikely. Despite the updates to monetary policy, stocks have continued to surge due to better than expected US company quarterly earnings and upgrades to future financial forecasts.
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