Wall Street rallies as hopes grow for more Fed stimulus
NEW YORK (Reuters) – Wall Street rose on Friday on growing hopes of further stimulus from the Federal Reserve and the European Central Bank, as economic growth slowed in the second quarter. Gross domestic product growth slowed to a 1. 5 percent annual rate in the second quarter as consumers spent at their most sluggish pace in a year. While economists expected worse, it was weak enough to keep hope alive for an additional round of Fed stimulus. The Federal Reserve meets next week, and the market is looking for signs of additional monetary stimulus. . . .
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