Dow surges by more than 700 points as investors bet on September rate cut

Stocks rose significantly on Tuesday as Wall Street grew optimistic about a potential decrease in borrowing rates in the fall. The Dow reached a new all-time high with a surge of over 700 points, while the S&P 500 and Nasdaq Composite also experienced gains. This positive sentiment among investors is driven by strong corporate earnings, a better-than-expected consumer spending report, and encouraging inflation data. Experts now expect the Federal Reserve to cut interest rates in September, with a near 100% probability according to the CME FedWatch Tool. Gold futures also climbed by 1.4% after reaching a record high earlier in the day.