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The famous Wall Street index exceeded the 37,000 point mark for the first time and completed the day at 37,090.24 points, with an increase of 1.40 percent. The Dow has gained just over 14 percent since rallying from an intermediate bottom in late October. There has been an increase of nearly 12 percent since the beginning of the year.
The market-wide S&P 500 index increased by 1.37 percent to 4,707.09 points on Wednesday. The technology-heavy Nasdaq 100 index increased by 1.27 percent to 16,562.37 points. Both of these indexes have risen sharply during the current recovery in the stock market and are currently just below their highs.
As expected, the US Federal Reserve kept interest rates unchanged between 5.25 and 5.50 percent. However, for 2024, monetary authorities in Washington expect much more interest rate cuts than before.
They now assume the average key interest rate is 4.6 percent. They had assumed it would average 5.1 percent in September. This means about three rate cuts in 2024, for a total volume of 0.75 percentage points.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
