US stocks close slightly higher after Fed’s rate decision

2019-12-12 00:14:58 GMT (Economies.com)
US stocks close slightly higher after Fed’s rate decision

US stocks rose slightly on Wednesday, after the Federal Reserve's interest rates decision and Fed Chief Jerome Powell's positive statements about the US economy.

 

The US Federal Reserve decided today in a widely expected move to hold interest rates unchanged between 1.75% and 1.50%, and hinted a pause in 2020.

 

Fed's Powell said that the job market is still strong, the US economy will continue to grow at a moderate pace and stressed his forecast for inflation to rise to Fed's target rate.

 

Data showed today that CPI rose by 0.3% in November, higher than forecasts of 0.2%.

 

To the oil market, West Texas Intermediate (WTI) fell by 0.8% and closed at $58.76 a barrel, with a high of $59.2 and a low of $58.1.

 

Brent fell by 0.96% to $63.72 a barrel, and hit a high of $64.2 and low of $63.

 

As for stocks, Dow Jones rose by 0.1% or 29 points to close at 27,911, and hit an intraday high of 27,925 and a low of 27,801.

 

Nasdaq climbed 0.4% or 38 points to 8,654, with a high of 8,658 and a low of 8,622.

 

S&P 500 gained 0.2% or 9 points to 3,141, and hit a high of 3,143 and a low of 3,133.

 
 
 
  Symbol Last Change Chg.%
1.1809
0.0043
0.3642%
1.3059
-0.0012
0.0910%
Tadawul
7704.25
49.87
0.65%
27.412
-1.137
3.981%
42.270
0.285
0.679%
44.96
-0.47
1.03%
1954.105
-81.290
3.994%
 
 
US
 
Europe
 
Asia