Economic news

Wall Street upturns on FED meeting anticipation

Following Europe’s shares, which were in the green zone with DAX and FTSE MIB best performers, Wall Street opened in a positive mood as well, in run up to 2-day Fed meeting. One expects no changes in the rate of federal funds, although investors are waiting for the monetary policy information from the central bank as well as new economic forecasts.

wall street higher 1903

The Dow Jones Industrial Average grew by 0.68 percent, at 26,090, while the S&P 500 index added 0.63 percent, to 2,850 and the Nasdaq Composite Index surged 0.56 percent to 7,758 at 15.58 GMT.

Investors will follow the Fed's statement and on regulators' forecasts for future interest rates. The particular interest has the question whether the Fed will announce plans for the early completion of its efforts to halt the process of reducing the volume of bonds on the central bank balance sheet.

It is assumed that the Fed will retain the tactics of a wait-and-see approach to rate changes adopted in January.

Meanwhile, the volume of new orders for the U.S. manufacturing industry in January increased by 0.1 percent  according to Tuesday’s data compared with the previous month, as well as in December below 0.3 percent of market expectations.

Shares DSW Inc. fell by 12.58 percent after the income report for 2018, which did not coincide with the expectations.

Shares of Nvidia Corp. rose by 3.84 percent on Tuesday at 15.47 GMT after a post that Amazon.com would now use their T4 chips. Amazon.com’s shares were also on the rise to 2.03 percent.

 


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