NASDAQ spikes 3% on the back of tech shares
2023-02-02 15:49PM UTC

Most US stock indices rose on Thursday as markets assessed Fed's decisions and turned the focus on corporate results and the upcoming payrolls report.


The Fed recently increased interest rates by 25 basis points to 4.75%, the highest since September 2007.


Fed Chair Jerome Powell touted the slowdown in consumer prices in recent months, and said the Fed will continue to take decisions every meeting based on the most recent data.


Powell considers the growths in wages as high, and the labor sector as being tight now.


and in tandem, Bank of England and the European Central Bank both announced 0.5% rate hikes today.



Earlier data showed US unemployment clkaims fell to 183 thousdand in the week ending January 27 from 186 thousand, below estimates of 196 thousand.


Dow Jones fell 0.2%, or 70 points to 34,023 as of 15:46 GMT, while S&P 500 rose 1.4%, or 58 points to 4,177, as NASDAQ climbed 3%, or 350 points to 12,166. 


Future Wall Street Performance


Investors await a batch of corporate results in the tech sector such as Apple, Twitter, Amazon, and Alphabet. 


Eyes are also fixed on tomorrow's US payrolls report for January. 

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