Dow Jones Industrial Average Hits Record Highs

U.S. stock futures rose following the PCE price index report, which showed a 0.2% monthly increase and a 2.5% annual rise, affirming the Federal Reserve's inflation target. Dell's stock climbed over 4% after exceeding quarterly earnings expectations, driven by strong AI server demand, while Marvell Technology's shares surged more than 10% with positive guidance for third-quarter growth. Despite some stocks performing well, Ulta Beauty faced a downturn, missing earnings and cutting its outlook, causing shares to fall by 7%. The Dow Jones Industrial Average reached record highs due to expectations of an impending interest rate cut, with Fed Chair Jerome Powell indicating that lower borrowing costs are likely. Analysts predict that cyclical sectors will benefit from reduced rates, enhancing overall market performance. In contrast, Dow Inc's stock faced volatility, trading significantly below its 52-week high amid declining revenues.