The American indices S&P 500 and Nasdaq Composite rose to record levels in morning trading on Wednesday, July 10, after a speech in Congress by US Federal Reserve Chairman Jerome Powell left investors with little doubt that interest rates would be cut at the meeting in late July.

Economic growth in a number of leading countries has slowed recently, and that, along with trade disputes and unresolved political issues, could affect the US economy, Powell said. At the Fed's June meeting, many policymakers felt the need for "somewhat more accommodative" monetary policy had increased, he noted: Today, "uncertainty over trade tensions and concerns about the strength of the global economy appear to continue to weigh on the outlook for the U.S. economy."

The S&P 500 briefly topped the 3000 mark by just over two points, up 0.7%. Before Powell's speech, futures for the S&P 500 and Dow Jones were down 0.2%.

The Nasdaq Composite rose to 8228.1 points in morning trading. By 18.30 Moscow time, the indices had lost ground slightly: the S&P 500 and Dow Jones were growing by about 0.3%, the Nasdaq – by 0.4%.

“Everyone is now really confident that the Fed is going to cut rates at the July meeting,” told Shana Sissel, senior portfolio manager at CLS Investments, The Wall Street Journal. “It made a lot of people relax.”

It took the S&P 500 almost five years to overcome the distance of 1,000 points: it passed the 2,000 point mark in August 2014.

The S&P 500 index exceeded 3,000 points for the first time