The Dow Jones Industrial Average, S&P 500 and the NASDAQ Composite indices were up for the third consecutive week. The Dow and S&P 500 were up over 0.7 per cent each. The NASDAQ on the other hand outperformed by surging 2.2 per cent. The benchmark indices made new highs before giving away some of the gains towards the end of the week.

On the forex front, the dollar index and the US treasury yields witnessed a strong rise in the second half of the week. The trigger for this rise came from the outcome of the US Federal Reserve meeting on Wednesday. The Fed cut the rates by 25-basis points as expected to 3.75-4 per cent.

Dow Jones (47,562.87)

The Dow Jones touched the psychological 48,000 mark but failed to get a strong follow-through buying. The index made a high of 48,040.64 and then has

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