Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

The US stock market ended trading in the green zone after Powell’s statements


September, 09 2022
watermark Economic news

On Thursday, US stock indexes ended trading higher amid statements by the head of the US Federal Reserve System Jerome Powell.


Yesterday, an online speech by the Fed chairman took place, during which Powell stated that the regulator intends to fully focus in the future on reducing the inflation rate to the target level of 2%. The next Fed meeting will be held on September 20-21, and Powell will not speak again until then.


After the speech of the Fed’s head, the Dow Jones Industrial Average rose by 193.24 points (0.61%) and amounted to 31774.52 points.

The Standard & Poor's 500 rose by 26.31 points (0.66%) to 4006.18 points.

The Nasdaq Composite gained 70.23 points (0.6%) and amounted to 11,862.13 points.


Meanwhile, the European Central Bank raised all three key interest rates by 75 bps following Thursday's meeting. The base interest rate on loans was raised to 1.25%, the deposit rate to 0.75%, the rate on margin loans to 1.5%. The regulator also announced its intention to continue raising rates at the next few meetings.


In addition, market participants drew attention to the data of the US Department of Labor on the number of unemployment benefits. The number of Americans who applied for unemployment benefits for the first time decreased by 6 thousand last week and amounted to 222 thousand people. This was the lowest since the end of May.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.