US stocks rise on interest rate cut bets
US stocks rose at the start of trading today, boosted by speculations that the Federal Reserve will cut interest rates at this month's meeting.
This came after a statement by a member of the Federal Reserve yesterday, in which he stressed the need for the central bank to take action to address any slowdown in the growth of the US economy.
Market analysts interpreted the comments as a new signs of the central bank intentions of a rate cut this month.
US President Donald Trump commented on the market's events, saying on his Twitter account "To the Fed: there is no inflation".
The comments were overshadowed by market fears of the renewed trade war after US President Trump threatened to impose more tariffs on his country's imports from China.
In terms of trading, Dow Jones rose by 0.2% (equivalent to 65 points) to 27,287 points, Nasdaq rose 0.1% (12 points) to 8,219 points, while S&P 500 rose by 0.1% (two points) to 2,997 points.
| Symbol | Last | Change | Chg.% | ||
|---|---|---|---|---|---|
|
|
|
1.1035
|
0.0000
|
0.0023%
|
|
|
|
|
1.3064
|
-0.0018
|
0.1410%
|
|
|
|
Tadawul
|
8326.97
|
-59.38
|
0.71%
|
|
|
|
|
18.253
|
0.149
|
0.826%
|
|
|
|
|
52.955
|
-1.317
|
2.428%
|
|
|
|
|
60.69
|
-1.35
|
2.18%
|
|
|
|
|
1581.375
|
10.745
|
0.684%
|
|
