Wall Street stocks surged Wednesday after the Federal Reserve trimmed its US economic forecast and signaled a cautious approach to raising interest rates.
At the closing bell, the Dow Jones Industrial Average was at 18,072.50, up 223.42 points (1.25 percent).
The broad-based S&P 500 gained 24.94 (1.20 percent) at 2,099.22, while the tech-rich Nasdaq Composite Index jumped 45.17 (0.91 percent) to 4,982.61.
The Fed dropped a pledge to remain "patient" on raising interest rates, signaling a midyear federal funds rate hike remained possible after keeping the key rate at the zero level for more than six years.
But other language in the Fed's statement emphasized that the central bank was in no rush to hike rates. The US central bank also broadly lowered its outlook on the US economy this year.
"The market was kind of anticipating the worst of all worlds and when that didn't happen, you got this spring-back rally," said Mace Blicksilver, director at Marblehead Asset Management.
GMT 11:02 2018 Tuesday ,11 December
ASE opens trading on lower noteGMT 15:40 2018 Monday ,10 December
Amman stock market closes trading at JD4.4 millionGMT 19:10 2018 Wednesday ,05 December
Index at Palestine stock market drops by less than one pointGMT 17:58 2018 Sunday ,25 November
Amman stock market wraps up trading at JD2.6 millionGMT 14:24 2018 Thursday ,22 November
Russia’s stock market demonstrates record-breaking figures in 2018GMT 11:45 2018 Tuesday ,20 November
Tokyo stocks close lower as tech issues weigh, Nissan tumblesGMT 15:08 2018 Monday ,19 November
Amman stock market wraps up trading at JD6.1 millionGMT 15:51 2018 Sunday ,18 November
U.S. stocks post weekly losses amid tech shares routMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor