SINGAPORE (July 17): Global stocks rallied and US equities reached record highs after US Federal Reserve chair Janet Yellen said the Federal Reserve would be mindful of economic data as it raises interest rates and shrinks its balance sheet. The Standard & Poor’s 500 index rose 0.7% to 2,443.25 points on July 12, with the real estate and IT sectors taking the lead. The Dow Jones Industrial Average reached an intraday record high of 21,580.79 points, before ending the day 0.6% higher at 21,532.14 points. Meanwhile, the Nasdaq Composite Index rose 1.1% to 6,261.17 points.

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