Wall Street closed Wednesday with solid gains — the Dow Jones Industrial Average, its main benchmark, rose 2.18% — after Federal Reserve chairman Jerome Powell announced that Interest rate hikes will start to slow down “once December”.
(Keep reading: The interest rate for December will be 41.46%, the highest rate since 2007.)
The New York Stock Exchange, which started the day with some of its most significant negative indicators, enthusiastically celebrated Powell’s message and rose in the closing stages of the session, With a particularly clear rise for the Nasdaq Technology Index, which rose 4.41%, or 484.22 pointsup to 11468.00.
While, The Dow Jones added 737.24 units, up to 34,589.77, And the selective S&P 500 advanced 3.09%, or 122.48 whole numbers, to 4,080.11, according to interim data. Powell has hinted that the next rate hike will be 0.5 points instead of the 0.75 that has been approved in recent months, although he added that inflation is still too high to stop the rate hikes and therefore the official rate should remain. higher for longer than expected. .
Wall Street also ended the month of November with a gain and occupied the second month in a row in the green, It is fueled by this optimism in the face of expected enthusiasm from the Federal Reserve: the Dow Jones rose by a cumulative 5.67%; S&P 500 Selective 5.12% and the Nasdaq Composite Index 4.18%. However, the three indicators continue to show losses for the year as a whole.
(Plus: The start date for the 50% off Soat Motorcycles has been pushed back.)
comments The chairman of the Federal Reserve had a huge impact today on the debt market, The 10-year Treasury topped 3.8% this morning, only to drop later to 3.611%. The latest data from the US labor market has also had an impact, with a total of 10.33 million new jobs opened in October, which is lower than estimates and coincides with some of the Fed’s remarks about a slowdown in hiring in the country.
everybody Corporate sectors ended the day in greenWith the strongest rise for technology companies (5.03%), telecoms (4.92%) and non-core commodities (3.48%). In the Dow Jones group, the biggest gains were for Microsoft (6.16%), Salesforce (5.65%), Apple (4.86%) and Intel (4.05%), with Walmart (4.05%) down only slightly. -0.36%) and 3 million (-0.13%). In other markets, the price of Texas oil rose to 80.55 dollars a barrel, and at the close of the stock exchange, gold rose to 1.783 dollars an ounce, and the dollar was losing strength against the euro, with a change of 1.0405.
EFE
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