[ad_1]
The recovery in the US stock market continued at a rapid pace on Wednesday. The daily gains of the Dow and S & P 500 were as strong as they were at the end of March.
NEW YORK – (dpa-AFX) – The upturn in the US stock market has continued on Wednesday. The daily gains of the Dow and S & P 500 were as strong as they were at the end of March. The euphoric sentiment was fueled primarily by the statements of US Federal Reserve Chairman Jerome Powell. In a speech in New York, this brought to light an even more cautious approach to future rate hikes.
The Dow Jones Industrial Index (Dow Jones 30 Industrial) rose for the third day in a row, eventually gaining 2.50% to reach 25,366.43. At the beginning of the exchanges, renewed hopes of a rapprochement in the US-China trade dispute were initially pursued. Then, Powell's guidance on interest rate policy was added. "We know that the economic impact of our rate hikes is uncertain," said the Fed chief, pointing out that the effects could take up to a year or more to become visible. In particular, market participants interpreted this badumption as a possible reduction in interest rates in the coming year.
The S & P 500 at the market scale rose 2.30% to 2743.78 points. The NASDAQ 100 index rose 3.17% to 6913.33.
In the Dow Jones index, shares of Boeing aircraft manufacturers and Caterpillar construction equipment manufacturers rose with a gain of just under 5% from the peak of the index. The tail light, however, after clear gains the day before, against the newspapers of the telecommunications company Verizon, dropped by about 1%.
Salesforce (Salesforce) jumped just over 10% on Nyse after submitting higher quarterly and annual targets. The software maker and its competitor SAP saw a surprisingly strong sales increase in the third quarter, thanks to the boom in the cloud business. The decline in profits due to high investments also exceeded expectations.
In contrast, Tiffany shares (TiffanyCo) fell by almost 12%. The jeweler did not meet expectations in the third quarter due to the purchase of fancy jewelery lower than expected by Chinese tourists. In addition, investors were disappointed by the prospect of confirmed earnings alone.
In the US bond market, 10-year government bonds rose by 2/32 points to 100-20 / 32 points, a return of 3.05%. The euro jumped and easily surpbaded the $ 1.13 mark below which it fell after poor economic data. At the closing of Wall Street, the common currency cost 1,1369 USD. The European Central Bank had previously set the benchmark rate at $ 1.1284 (Tuesday: $ 1.1322). The dollar therefore costs 0.8862 (0.8801) euro / cu / she
— By Claudia Müller, dpa-afx —
[ad_2]
Source link
