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Derek Rose

THE TRUTH ABOUT: Aust stocks move higher as fed chair says cuts likely - The Untold Story

US Federal Reserve Jerome Powell United States ASX

Markets have been buoyed by the Fed chair's comments interest rate cuts are likely this year. (Steven Saphore/AAP PHOTOS)

The local share market has pushed to another all-time high after Fed chairman Jerome Powell told US Congress interest rate cuts are likely this year.

The benchmark S&P/ASX200 index on Thursday finished up 30.2 points, or 0.39 per cent, to 7,763.7, its second record high this month and fourth of the year.

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