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Wall Street Rises as Fed Dampens Rate Hike Speculation
The New York Stock Exchange was trading higher today at the start of the session, buoyed after the US central bank ruled out an interest rate hike.
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Economia Wall Street
At 2:50 p.m. (Lisbon time), the Dow Jones index was up 0.27% to 38,005.88 points and the Nasdaq, dominated by the technology sector, was up 0.53% to 15,687.84 points.
The broad S&P 500 index was up 0.56% to 5,046.32 points.
Apple, which is part of the Dow Jones index, was up 1.49%, on the day it releases its quarterly results after the close of the session.
On Wednesday, the Federal Reserve (Fed), the US central bank, left interest rates unchanged between 5.25% and 5.50%, the highest level in 23 years, acknowledging the "lack of progress" in bringing inflation down to its target of 2%.
However, Fed Chairman Jerome Powell said at a press conference that "the next move in rates is unlikely to be a hike," which seems to have cheered Wall Street.
The Fed has raised interest rates 11 times between March 2022 and July 2023 to curb inflation.
Read also: Wall Street ends down in anticipation of Federal Reserve meeting (Portuguese version)
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