US stocks rose slightly today. Investors evaluate the contradictory statements of representatives of the American central bank (Fed). The dollar fell to the lowest level in three and a half months. All three major US stock indexes erased most of their previous gains during the session.
Take a break
The Dow Jones index, which includes shares of thirty leading American companies, rose by 0.24 percent today and ended trading at 35,416.98 points. The broader S&P 500 added 0.10 percent to 4,554.89 points and the Nasdaq The Composite , which includes many companies from the advanced technology sector, rose by 0.29 percent to 14,281.76 points.
“Even marathon runners need to take a break to catch their breath and drink water. But that doesn’t mean the race is over,” said Wealthspire analyst Oliver Pursche Advisors . “It was a very strong November and investors have every reason to remain optimistic until the end of the year,” he added.
Rates will remain
is carefully evaluating the statements of the representatives of the central bank before the meeting of the monetary committee of the Fed , which will be held next month. The vast majority of investors believe the Fed will leave interest rates unchanged next month.
Fed Board member Christopher Wall said he is “increasingly convinced” that the current level of the central bank’s key interest rate is restrictive enough. He even hinted at the possibility of a rate cut in the coming months if inflation continued to fall closer to the Fed’s 2 percent target . A member of the Fed’s Board of Governors, Michelle Bowman , indicated that an appropriate reduction in inflation may require further interest rate hikes.
“It is quite common for the representatives of the Fed to be divided. This situation always occurs when the central bank it’s coming to the end of a cycle,” Pursche said . Some central bankers, he said, will be more convinced than others that it’s time to stop tightening monetary policy.
source: ÄŒTK
