Stocks rise, dollar falls after Fed hikes as expected

by the expected 25 basis points but communicated more increases were on the horizon.

"The key thing the Fed is focused on is wages and we are seeing wage inflation continue to ameliorate if you look at both average hourly earnings and the employment cost index which just came out, wages are beginning to soften, but they are not softening enough to get inflation down to that 2 per cent target," said Ellen Hazen, chief market strategist at F.L.Putnam Investment Management in Wellesley, Massachusetts.

The Dow Jones Industrial Average fell 5.45 points, or 0.02 per cent, to 34,080.59, the S&P 500 gained 30.83 points, or 0.76 per cent, to 4,107.43 and the Nasdaq Composite added 173.22 points, or 1.5 per cent, to 11,757.77. Earnings season also continues to roll on, with Facebook owner Meta reporting earnings after the closing bell on Wednesday. Later in the week will bring earnings from names such as Apple and Amazon.

Data on Wednesday showed headline inflation in the euro zone moderated to 8.5 per cent in January, from 9 per cent in December, while core prices picked up to 7 per cent from 6.9 per cent, likely keeping pressure on the ECB to raise interest rates aggressively.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks firm, dollar on edge ahead of Fed decisionSINGAPORE : Asia's stockmarkets steadied on Wednesday, with signs of a slowdown in U.S. wages bolstering hopes that the Federal Reserve could hint at an end to interest rate hikes at its meeting later in the day.Wall Street indexes had rallied, as had bonds to a lesser extent, while the dollar gave up gai
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Asian stocks slip as investors eye central bank hikesAsian shares traded cautiously and bonds nursed small losses on Tuesday as investors braced for an eventful week that includes central bank meetings, a slew of earnings reports and key U.S. economic data.Investors broadly expect the U.S. Federal Reserve will raise interest rates by 25 basis points (bps) o
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Chinese investors pivot to stocks from bonds on recovery hopes - funds reportSHANGHAI : Chinese investors are starting to shift money from bonds to stocks, betting on a robust recovery for riskier assets as the government's policy pivots to boost growth, the latest report on mutual funds showed.Foreign money has also been flowing into China equities, sending the benchmark index up
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »