US stocks opened Thursday in the green as investors digested another rate hike from the Federal Reserve, better-than-expected GDP numbers for the second quarter, and prospects of a historic win-streak for the Dow Jones Industrial Average.
On Wednesday, policymakers announced a 25 basis-point rate hike, bringing the federal funds rate to a range of 5.25%-5.5% range. According to CME's FedWatch Tool, traders largely expect this to be the final adjustment of the year. Jerome Powell said that the central bank no longer expects a recession for the US economy. To that point, second-quarter gross domestic product clocked in higher than expected. Over the last three months, GDP, the sum of all goods and services activity, increased 2.4% annually, better than the consensus 2% Dow Jones estimate.
Meanwhile, should the Dow Jones Industrial Average stay positive through Thursday trading, it would mark the 14th consecutive winning day — the longest streak since 1897, per CNBC.
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.
Stock market news today: Dow notches its 12th straight winDow notches 12th straight win as US stocks rally ahead of Fed policy decision
Source: BusinessInsider - 🏆 729. / 51 Read more »
Stock market news today: Dow win streak at risk amid Fed meetingThe Dow's win streak is at risk as US stocks drop ahead of expected Fed rate hike
Source: BusinessInsider - 🏆 729. / 51 Read more »
Stock market news: Dow notches 13-day win streak, longest since 1987Dow notches longest winning streak since 1987 after latest Fed rate hike
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: WSJ - 🏆 98. / 63 Read more »
Source: Investingcom - 🏆 450. / 53 Read more »
Stock market news today: Stocks mixed as Fed begins 2-day meetingUS stocks trade mixed as the Fed begins its 2-day policy meeting
Source: BusinessInsider - 🏆 729. / 51 Read more »