The president of the US central bank assures that they will continue to raise rates until the rise in prices moderates.
Wall Street has more than recovered from yesterday’s falls. US stock indices have been trading higher all day, and just when they seemed to run out of steam, the market received some news from the Federal Reserve. The president of the institution, Jerome Powell, has assured that they will not hesitate to continue raising interest rates until inflation begins to fall.
“What we need to see is inflation coming down and in a clear and convincing way. And we’re going to keep pushing until we see that,” Powell said.
The market has celebrated the determination shown by the president of the US central bank by accelerating purchases in one day without the volatility of previous days. The Nasdaq led the gains, rising 2.76% to 11,984 points. Among the big technology companies, Amazon (4.11%) and Apple (2.54%) have led the climb, followed by Microsoft (2.03%), Alphabet (1.77%) and Meta (1.29%) .
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For its part, the Dow Jones has gained 1.34%, up to 32,654 points. Boeing (6.45%), American Express (3.46%) and JPMorgan (3.31%) have led the increases in the selective, while Wallmart (-11.38%), McDonald’s (-0.99% ) and Procter
The hypermarket chain receives a strong punishment from the market as a result of its quarterly results, which have not met analysts’ forecasts.
Wall Street’s gains throughout the day, according to Vital Knowledge’s Adam Crisafulli, are because investors have been buoyed by three straight days of “relatively normal” price action.
For Art Hogan, chief market strategist at National Securities, today’s advances are a continuation of those experienced on Friday. “But the most important thing for investors is to get to a point where many of the worst-case scenarios are priced in,” he added.
In the oil market, a barrel of West Texas, a reference in the US, fell to 112 dollars, while the ounce of gold remained at 1,810 dollars. For its part, the yield on the US 10-year bond gains momentum and now stands at 2.978%.
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