NEW YORK (dpa-AFX) – US equity markets have stabilized slightly after the recent dip on Tuesday. Notably, the Nasdaq tech trading is on the rise again. Apparently, weak domestic economic data has somewhat allayed fears that the U.S. Federal Reserve might adopt an aggressive tone at the international central bankers meeting in Jackson Hole, Wyoming, which begins Thursday, regarding further interest rate hikes. . According to Swiss bank Credit Suisse, the market is likely to follow Fed Chairman Jerome Powell’s speech with suspense on Friday.
In the first hour of trading, the main Dow Jones Industrial index rose
by 0.10 percent to 33,096.56 points. For the S&P 500 at the market level rose 0.44 percent to 4156.30 points. The high-tech Nasdaq 100
advanced 0.74 percent to 12,986.06 points.
The market has feared for days that the Jackson Hole Fed will hold onto the prospect of further tight monetary policy to keep inflation in check. This could stall the largest economy in the world, which by definition has slipped into recession over the past two quarters. Rising interest rates also tend to reduce the attractiveness of stocks compared to fixed income securities such as bonds.
ISIN US2605661048 US6311011026 US78378X1072
AXC0218 2022-08-23 / 16: 31
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