Recent developments in financial markets (all times locally):16.00Shares increased on Wall Street, which gave a 600-point increase in Dow Jones…
Recent developments in financial markets (all times locally):
Shares increased on Wall Street, which gave a 600-point increase in Dow Jones Industrial Average, after the head of the Federal Reserve suggested slowing interest rate hikes.
The market was spinning soon after dinner the Wednesday after the Federal Reserve chairman Jerome Powell proposed that the central bank could consider a pause in its interest rate hikes next year.
Fed must raise interest rates to ward off inflation, but investors fear that they can also slow down economic growth.
The technology stocks published some of the biggest profits. Salesforce.com increased by 1
Dow climbed 617 points, or 2.5 percent, to 25366, the biggest profit of eight months.
The S & P 500 index rose 61 points, or 2.3 percent to 2.743.  The Nasdaq composer climbed 208 points, or 2.9 percent to 7.291.
The shares move sharply higher after the Federal Reserve chairman Jerome Powell proposed that the central bank could consider a pause in its interest rate hikes next year.
Powell, in a speech in New York on Wednesday, seems that interest rates seem to be just below the level called by the Fed, “neutral”, neither stimulating growth or hindering it. In October, he stated that prices were still far below neutral.
The success of slower rate hikes was well received on Wall Street.
Dow Jones Industrial Average jumped 497 points or 2 percent to 25,245 in the afternoon trade.
The S & P 500 Index increased 47 points, or 1.8 percent to 2.729.
The Nasdaq composition climbed 157 points, or 2.2 percent to 7.240.
US Stock Index Increases as Software Manufacturers Salesforce leads a rally in technology companies.
Salesforce jumped 4.3 percent in dinner trading Wednesday after reporting revenue that was much higher than expected analysts.
Healthcare shares were also higher. United Health Group increased by 2.6 percent.
Tiffany pulled 12.1 percent after the jewelry seller said that Chinese tourists dropped back on spending in the last quarter.
The S & P 500 index increased by 10 points or 0.4 percent to 2.692.  Dow Jones Industrial Average rose 192 points, or 0.8 percent, to 24.939. The Nasdaq composite climbed 32 points, or 0.4 percent, to 7 113.
Bond prices fell. The return on the 10-year government bond rose to 3.07 percent.
Shares open higher on Wall Street, with solid profits in major technology and healthcare companies.
Apple manufactured 1.2 percent in early trading Wednesday and healthcare company UnitedHealth Group rose 1.8 percent.
Software maker Salesforce.com jumped 6.5 percent after reporting a big battle in profit.
Tiffany killed 9.5 percent after saying Chinese tourists did not bet much in their stores.
The S & P 500 index increased by 12 points, or 0.5 percent to 2,695.
Industrial average Dow Jones increased 165 points, or 0.7 percent to 24.905. The Nasdaq composite climbed 46 points, or 0.7 percent, to 7 128.
Bond prices fell. The return on the 10-year government bond rose to 3.06 percent.