Global stock prices rose on Monday as investors expected less aggressive U.S. interest rate hikes this year as inflation began to recede from its highest levels in decades.
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The increase in share prices was facilitated by the statements of the officials of the US Federal Reserve System (FRS), which indicate that the US central bank will raise interest rates at a slower pace than last year.
Analysts pointed to a report in the “Wall Street Journal” (WSJ) that at the next FRS meeting at the end of this month, interest rates are expected to be raised by 25 basis points – less than the previous times they were raised.
Investors are also awaiting the release of US inflation data on Friday, hoping it will give the FRS another reason to slow rate hikes.
Big companies are also expected this week, including “Microsoft“, “Intel” a “Boeing“, reports on their profits.
The Dow Jones Industrial Average rose 0.8% to 33,629.56 on Monday, the Standard & Poor’s 500 rose 1.2% to 4,019.81, and theNasdaq Composite” increased by 2.0% to 11,364.41 points.
London’s FTSE 100 rose 0.2% to 7,784.67 on Monday, Frankfurt’s DAX 30 rose 0.5% to 15,102.95 points, while the Paris Stock Exchange’s CAC 40 index rose 0.5% to 7,032.02 points.
of New York WTI crude oil fell less than 0.1% to $81.62 a barrel in electronic trading on Monday. “Brent” crude oil price on the London Stock Exchange rose by 0.6% to 88.19 dollars per barrel.
The euro rose against the US dollar on Monday from $1.0856 to $1.0877 per euro, the British pound against the US dollar fell from $1.2397 to $1.2374 per pound and the US dollar against the Japanese yen rose from 129.60 to 130.66 yen per dollar. The euro rose against the British pound from 87.57 to 87.82 pence per euro.
