US: Dow hits record high at open on rate-cut optimism, UnitedHealth boost

[NEW YORK] The blue-chip Dow opened at a record high on Friday (Aug 15), as UnitedHealth’s shares jumped after Berkshire Hathaway raised its stake in the health insurer, while expectations of an interest rate cut in September also lifted the mood.

The Dow Jones Industrial Average rose 248.7 points, or 0.55 per cent, at the open to 45,159.91.

The S&P 500 rose 8.8 points, or 0.14 per cent, at the open to 6,477.38​, while the Nasdaq Composite dropped 1.3 points, or 0.01 per cent, to 21,709.336 at the opening bell. REUTERS