Wednesday March 17th 2021
S&P and Nasdaq are also up
Fed decision lifts Dow Jones to record high
The US Federal Reserve confirms its loose monetary policy stance. The Fed decision calms investors on Wall Street. The Dow Jones and S&P 500 even mark new highs.
Well-received statements by the US Federal Reserve on monetary policy have given Wall Street a tailwind. The U.S. Standard Values Index Dow Jones closed 0.6 percent higher to 33,015 points. The technology-heavy one Nasdaq advanced 0.4 percent to 13,525 points. The broad one S&P 500 gained 0.3 percent to 3974 points. Dow Jones and S&P set new records.
Despite the more favorable economic outlook, the Fed is sticking to its ultra-loose monetary policy. "It is noteworthy that it is forecasting 6.5 percent growth for the current year and yet not changing its policy," said Neil Wilson, chief analyst at the online broker Markets.com. "It looks like the Fed is going to let the economy run hot and not intervene."
Bonds mixed – dollars under pressure
In the bond market, investors reacted differently to the Fed's decision. The yield on landmark 10-year US bonds fell to 1.6462 percent after previously hitting a 14-month high of 1.689 percent. Yields also fell on bonds with shorter maturities. The 30-year Treasuries, however, at 2.464 percent at times, were as high as they were last year and a half.
At the same time, the US currency plummeted. Of the Dollar index, which reflects the exchange rate to major currencies, lost 0.5 percent. Because this gold makes it more attractive for investors outside the US, the precious metal rose 0.8 percent to $ 1,744 per troy ounce (31.1 grams).
Uber in the red
Belonged to the stock values About with a minus of more than four percent to the losers. The obligation to pay his British drivers a minimum wage will cost the operator almost 300 million dollars, the analysts at Bank Morgan Stanley calculated.
The papers of Plug power even collapsed by almost eight percent. The fuel cell supplier has to correct its balance sheets for 2018 and 2019 as well as the quarterly reports for 2019 and 2020 due to incorrect bookkeeping.
. (tagsToTranslate) Uber – ride-sharing broker (t) Dow Jones (t) Wall Street (t) stock prices (t) stock trading