Dow Jones spikes 370 points

Economies.com
11 months ago

US stock indices rallied on Wednesday ahead of the Federal Reserve's policy decisions.

 

US retail sales fell in May unexpectedly, by 0.3%, while analysts expected a rise of 0.1%. 

 

Core sales, excluding food and energy, rose 0.5% last month, while analysts expected a 0.7% rise. 

 

Now markets await the Federal Reserve's policy decisions later today, expected to hike rates by 50 basis points at least.

 

Fed chair Jerome Powell will then present his remarks to lay out the path forward in monetary policies.

 

Dow Jones rose 1.2% to 30,733 as of 14:00 GMT, while S&P 500 rose 1.3% to 3,786, as NASDAQ climbed 1.6% to 10,998.

American Markets News

Americas News

Markets

Wall Street climbs amid optimism for the banking sector
1 day ago
US stock indices climbed on Wednesday amid optimism for the US banking sector following statements ...
Americas News

Markets

Wall Street edges up despite pressures on banking sector
2 days ago
US stock indices rose mildly on Tuesday amid pressures on the US banking sector while investors ...
Americas News

Markets

Apple hits record high after mixed reality headset
2 days ago
Apple hit a near record high on Monday with its valuation approaching $3 trillion after revealing a ...