Wall Street edges higher as Fed's Williams boosts rate-cut hopes

Wall Street edges higher as Fed's Williams boosts rate-cut hopes

U.S. stock futures slipped on Thursday after streaming pioneer Netflix posted its first drop in U.S. subscribers since 2011, kicking off earnings for the so-called FANG group on a sour note.

Traders work on the floor of the New York Stock Exchange in New York
Traders work on the floor of the New York Stock Exchange in New York, United States, July 2, 2015. REUTERS/Brendan McDermid

NEW YORK: U.S. stocks moved higher on Thursday after a slow start as comments from New York Fed President John Williams further cemented expectations for interest rate cuts from the U.S. central bank at the end of the month.

The Dow Jones Industrial Average rose 2.58 points, or 0.01per cent, to 27,222.43, the S&P 500 gained 10.64 points, or 0.36per cent, to 2,995.06 and the Nasdaq Composite added 22.04 points, or 0.27per cent, to 8,207.24.

(Reporting by Evan Sully; Editing by Susan Thomas)

Source: Reuters

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