Wall Rises on FED Statement

After opening marginally lower, all of the leading US indices are in the green at lunchtime US time.

• Industry-heavy Dow Jones is up 0.3 percent to 35,437 points.
• The technology index Nasdaq is up 0.21 percent to 14,270 points.
• The collective index S&P 500 is up 0.16 percent to 4.4557 points.

The ten-year US government bond yield is unchanged at 4.35 percent. So is the VIX index, also called the fear index, which at 12:30 US time (ET) stands at 12.68.

After an almost four-week continuous rise in the three leading indices, yesterday was a breath of fresh air, as all indices fell. Today, on the other hand, it is again moving towards an upswing in New York.

Dow is about to end November up 7.3 percent, while S&P 500 heading for an increase of 8.7 per cent. Nasdaq is set for an increase of 11.1 percent this month.

Fed statement

Fed Governor Christopher Waller said earlier Tuesday that policy is “currently well positioned” to slow the economy and bring inflation back to 2 percent. Waller’s hint that it may become relevant for the US central bank to lower the key interest rate in the coming months if inflation falls further has raised hopes among investors who are eyeing interest rate cuts in the coming months.

Waller’s comment comes ahead of the Federal Open Market Committee’s policy meeting on 12-13. December. Here, the markets generally expect that the committee will keep the policy rate stable.

Freyr continues to fall

On the Dow leader Boeing an with a rise of 1.76 per cent after an upgrade from RBC Capital Markets. Analyst Ken Herber believes Boeing’s outlook for 2024 looks better, and expects increased demand going forward, according to CNBC. Nike and Walmart both rise around 1 percent. The S&P 500 is lifted by, among other things, the gold mining company Newmont Corporation which rises almost 5 percent on rising gold prices. An ounce (US ounce) of gold traded up 1.5 percent to $2,041 on Tuesday.

Of Norwegian shares continues Freyr the huge price drop that the share has experienced in recent weeks. Yesterday the share fell by 7.6 per cent, and today it falls a further 5.6 per cent. In one year, the share has now fallen 89.55 per cent.