Stocks hold their gains on Wall Street after Fed statement

COVID-19 unleashed new demand for homes, made the well-off wealthier, and fueled extreme bidding wars. The result? The $1-million home is everywhere.The other major indexes also received a bump but shed some of their gains by late afternoon. The Dow Jones industrial average rose 338.48 points, or 1%, to 34,258.32. The blue-chip index had briefly surged 520 points higher. The Nasdaq composite gained 150.45 points, or 1%, to 14,896.85.

Wall Street has been trying to gauge how the slowdown in the economic recovery will affect the Fed’s decision-making process. The broader market has been choppy as that question lingers amid rising cases of COVID-19 because of the highly contagious Delta variant and the effect of rising inflation on companies and consumers.

But after the Fed’s official announcement that it would taper its purchases finally arrived in December, the 10-year yield quickly made a U-turn and began falling again. That’s even though the Fed was reducing its support for a program meant to keep rates low. Analysts say that shows how much power the Fed has through signaling: a taper can mean less help is on the way for the economy, which can mean slower growth and inflation.

Smaller stocks did better than the broader market. The Russell 2000 index rose 32.38 points, or 1.5%, to 2,218.56.

good luck

With the use of your cellphone and PC you can earn up to more than $2500 daily from forex trade and Bitcoin investment depending on your capital investment. All thanks to Teri Ijeoma my forex account manager and Bitcoin miner Investor_Teri

South Africa South Africa Latest News, South Africa South Africa Headlines

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

Stocks drop the most since May on worries over China and the FedU.S. stocks had their biggest drop since May as traders worried about potential ripple effects if a heavily indebted Chinese real estate company defaults and the likelihood that the Federal Reserve will signal that it will pull back its supports for markets and the economy Worries over Biden.
Source: latimes - 🏆 11. / 82 Read more »

European stocks head for higher open as markets prepare for Fed updateEuropean stocks are expected to open higher on Wednesday as global investors await the outcome of the latest meeting of the U.S. Federal Reserve. For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to her earn_with_Jens1 Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success Yaaa SAUSGAES do some research on RYCEY 🤦‍♂️ Rolls-Royce 🚀🚀🚀 Am speechless seeing myself having my first payouts after been scammed countless times, God bless you and your team Hendrickspat7
Source: CNBC - 🏆 12. / 72 Read more »