By Jesse Cohen
Investing.com – Thousands will be gathering in Washington DC to participate in President Donald Trump’s celebrations on Thursday.
The event is being referred to as a “,” and will include a speech by Trump, Army tanks, a flyover of military jets, Air Force One, and the “biggest ever fireworks” display.
“I’m going to be here and I’m going to say a few words and we’re going to have planes going overhead, the best fighter jets in the world and other planes too and we’re gonna have some tanks stationed outside,” Trump told reporters at the White House on Monday.
He added that the event will “be like no other, it’ll be special”.
Trump has defended the celebration and dismissed criticisms on Twitter on Wednesday by saying the “cost of our great Salute to America tomorrow will be very little compared to what it is worth.”
On Wall Street, which is shut on Thursday in observance of the Independence Day holiday, all three major stock indices finished at amid growing expectations for a more dovish Federal Reserve.
Traders currently see a 29.7% chance the Federal Reserve would cut borrowing costs by 50 basis points at its July 30-31 policy meeting, up from the 25% perceived chance on Tuesday and 24% a week ago. A cut of at least 25 basis points is viewed as a .
Rising expectations for a rate cut as well as news of a trade truce between the U.S. and China helped the post its best June performance in decades.
In a pair of Wednesday tweets, Trump touted the stock market’s performance, referring to the S&P 500’s 19% rise so far this year.
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— Reuters contributed to this report
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