The Dow Jones index rose more than 300 points as investors predicted that The US Federal Reserve (Fed) will signal the end of the cycle of raising interest rates at its meeting this week.
As of 10:05 p.m. Thai time, the Dow Jones Industrial Average was at 32,744.16 points, plus 326.57 points or 1.01%.
In addition, the Dow Jones Index received support from investors sending speculative orders into the market. After the stock price plummeted heavily earlier
Analysts stated that The market gained positive factors from technical orders. After the market entered a state of oversold pressure after adjusting to news of the war between Israel and Hamas. As a result, the Dow, S&P 500 and Nasdaq fell more than 2% last week. and is likely to decline for 3 consecutive quarters for the first time since 2020.
The market is keeping an eye on the Fed’s monetary policy meeting this week. Including the disclosure of Apple’s operating results. Inc. on Thursday and figures for non-agricultural employment on Friday
Investors put their weight in forecasting that The Fed will hold interest rates steady at its final two meetings this year.
The latest CME Group’s FedWatch Tool indicates that investors give a 98.6% weight to the Fed to maintain interest rates at 5.25-5.50% at the Oct. 31-Nov. 1 meeting.
Moreover, investors gave a 79.1% preference for the Fed to maintain interest rates at 5.25-5.50% at its Dec. 12-13 meeting, after giving just 57.7% weight last month.
2023-10-30 15:27:17
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