New York Stock Markets Strong on Fed Pigeon Keys… Dow S&P Highest

Input 2021.03.18 06:42

On the 17th (local time), the major indexes of the New York Stock Market rose with relief from the results of the Federal Open Markets Commission (FOMC).

On the New York Stock Exchange (NYSE), the Dow Jones 30 Industrial Average closed at 31,015.37, up 189.42 points (0.58%) from the battlefield. The Standard & Poor’s (S&P) 500 index closed at 3974.12, up 11.41 points (0.29%) from the battlefield, and the technology stock-oriented NASDAQ index increased 53.64 points (0.4%) to close at 13,525.20.

The Dow index crossed the 33,000 line for the first time, and the S&P 500 index also hit an all-time high.

The mayor observed the results of the FOMC and the comments of the Federal Reserve Chairman Jerome Powell.

Early in the market there were concerns that the Fed might be less relaxed than expected. However, reaffirming its policy that the Fed will maintain a loose monetary policy for a long period of time, it provided relief to the market.

In a statement after the FOMC meeting that day, the Fed announced that it would keep the benchmark interest rate close to zero. It also predicted that the zero interest rate would be maintained until 2023. This year’s gross domestic product (GDP) growth rate was also raised to 6.5%.

New York stock market experts said the FOMC was the best result for the market. “It seems to be the best scenario for investors,” said Michael Aaron, chief investment strategist at State Street Global Advisor. “The market is also responding to a very positive outlook.”