Saturday, September 23, 2023
No Result
View All Result
logo
  • World
  • Opinion
  • UK News
  • Politics
  • Business
  • Science
  • Entertainment
    The 'Deadpool' creator Liefeld praises "The Night Comes for Us"

    The ‘Deadpool’ creator Liefeld praises “The Night Comes for Us”

    BLACKPINK’s Jennie announces release date of solo debut

    BLACKPINK’s Jennie announces release date of solo debut

    Hail a Ride Hands-Free: Apple Opens Siri to Outside Developers

    Hail a Ride Hands-Free: Apple Opens Siri to Outside Developers

    Mount Rinjani to be closed following the Lombok earthquake

    Mount Rinjani to be closed following the Lombok earthquake

    Bantar Gebang residents ask for increase in 'smelly money'

    Bantar Gebang residents ask for increase in ‘smelly money’

    The Chainsmokers Actually Make a Great Nickelback Cover Band

    The Chainsmokers Actually Make a Great Nickelback Cover Band

    Man Blows Himself Up On Empty Belgium Football Field

    Man Blows Himself Up On Empty Belgium Football Field

    Expert Tips: Important tips to improve your breakfast routine

    Expert Tips: Important tips to improve your breakfast routine

    Satay Western 'Marlina the Murderer' to represent Indonesia at the Oscars

    Satay Western ‘Marlina the Murderer’ to represent Indonesia at the Oscars

    Oka Antara plays police detective in new crime series 'Brata'

    Oka Antara plays police detective in new crime series ‘Brata’

  • Lifestyle
    • All
    • Fashion
    • food
    • Health
    • Travel
    Sleep Better During Menopause: Expert Tips And Tricks

    Sleep Better During Menopause: Expert Tips And Tricks

    Rob McElhenney Reveals Diagnosis For Learning Disabilities At 46

    Rob McElhenney Reveals Diagnosis For Learning Disabilities At 46

    Fat Joe Shares Weight Loss Journey And Battle With Depression

    Fat Joe Shares Weight Loss Journey And Battle With Depression

    Chrissy Teigen Shares Update After Her First Colonoscopy

    Chrissy Teigen Shares Update After Her First Colonoscopy

    Tori Kelly Hospitalized For Blood Clot After Collapsing In Public

    Tori Kelly Hospitalized For Blood Clot After Collapsing In Public

    DIY SOS' Nick Knowles and Strictly stars in tears over heartwarming tribute in special episode

    DIY SOS' Nick Knowles and Strictly stars in tears over heartwarming tribute in special episode

    RnB Singer Ari Lennox Celebrates 7 Months Of Sobriety

    RnB Singer Ari Lennox Celebrates 7 Months Of Sobriety

    Bella Hadid Proudly Celebrates 10 Months Without Alcohol

    Bella Hadid Proudly Celebrates 10 Months Without Alcohol

    Jamie Lee Curtis Speaks Out About Sobriety Journey

    Jamie Lee Curtis Speaks Out About Sobriety Journey

    Madonna Thanks Her Kids For Their Support After Hospitalization

    Madonna Thanks Her Kids For Their Support After Hospitalization

    Trending Tags

    • Golden globes
    • Climate Change
  • World
  • Opinion
  • UK News
  • Politics
  • Business
  • Science
  • Entertainment
    The 'Deadpool' creator Liefeld praises "The Night Comes for Us"

    The ‘Deadpool’ creator Liefeld praises “The Night Comes for Us”

    BLACKPINK’s Jennie announces release date of solo debut

    BLACKPINK’s Jennie announces release date of solo debut

    Hail a Ride Hands-Free: Apple Opens Siri to Outside Developers

    Hail a Ride Hands-Free: Apple Opens Siri to Outside Developers

    Mount Rinjani to be closed following the Lombok earthquake

    Mount Rinjani to be closed following the Lombok earthquake

    Bantar Gebang residents ask for increase in 'smelly money'

    Bantar Gebang residents ask for increase in ‘smelly money’

    The Chainsmokers Actually Make a Great Nickelback Cover Band

    The Chainsmokers Actually Make a Great Nickelback Cover Band

    Man Blows Himself Up On Empty Belgium Football Field

    Man Blows Himself Up On Empty Belgium Football Field

    Expert Tips: Important tips to improve your breakfast routine

    Expert Tips: Important tips to improve your breakfast routine

    Satay Western 'Marlina the Murderer' to represent Indonesia at the Oscars

    Satay Western ‘Marlina the Murderer’ to represent Indonesia at the Oscars

    Oka Antara plays police detective in new crime series 'Brata'

    Oka Antara plays police detective in new crime series ‘Brata’

  • Lifestyle
    • All
    • Fashion
    • food
    • Health
    • Travel
    Sleep Better During Menopause: Expert Tips And Tricks

    Sleep Better During Menopause: Expert Tips And Tricks

    Rob McElhenney Reveals Diagnosis For Learning Disabilities At 46

    Rob McElhenney Reveals Diagnosis For Learning Disabilities At 46

    Fat Joe Shares Weight Loss Journey And Battle With Depression

    Fat Joe Shares Weight Loss Journey And Battle With Depression

    Chrissy Teigen Shares Update After Her First Colonoscopy

    Chrissy Teigen Shares Update After Her First Colonoscopy

    Tori Kelly Hospitalized For Blood Clot After Collapsing In Public

    Tori Kelly Hospitalized For Blood Clot After Collapsing In Public

    DIY SOS' Nick Knowles and Strictly stars in tears over heartwarming tribute in special episode

    DIY SOS' Nick Knowles and Strictly stars in tears over heartwarming tribute in special episode

    RnB Singer Ari Lennox Celebrates 7 Months Of Sobriety

    RnB Singer Ari Lennox Celebrates 7 Months Of Sobriety

    Bella Hadid Proudly Celebrates 10 Months Without Alcohol

    Bella Hadid Proudly Celebrates 10 Months Without Alcohol

    Jamie Lee Curtis Speaks Out About Sobriety Journey

    Jamie Lee Curtis Speaks Out About Sobriety Journey

    Madonna Thanks Her Kids For Their Support After Hospitalization

    Madonna Thanks Her Kids For Their Support After Hospitalization

    Trending Tags

    • Golden globes
    • Climate Change
No Result
View All Result
logo
No Result
View All Result
Home Business

Dow Jumps Over 150 Points After Federal Reserve Announces New Approach To Inflation

by Markel
in Business
Reading Time: 4min read
0
SHARES
Share on FacebookShare on Twitter

The stock market opened slightly higher on Thursday, after another 1 million Americans filed for weekly unemployment and investors turned their attention to a big speech about inflation from Federal Reserve chairman Jerome Powell.

Dow Jumps Over 150 Points After Federal Reserve Announces New Approach To Inflation

The Dow Jones Industrial Average was up 0.6%, over 150 points, on Thursday, while the S&P 500 rose 0.2% and the tech-heavy Nasdaq Composite lost 0.1%.

Jobless claims came in above 1 million for the second week in a row, which was in line with Wall Street expectations, according to new data from the Labor Department. 

Investors are closely watching comments from Fed chair Powell, who on Thursday announced a “robust updating” of policy in which the Federal Reserve will allow inflation to run “moderately” above its long-running 2% goal. 

The central bank’s new approach to inflation is meant to support the labor market and broader economy by keeping interest rates lower for a longer period of time.

Shares of big tech stocks such as Amazon, Microsoft and Apple all rose following Powell’s speech.

U.S. GDP for the second quarter, meanwhile, was revised down to show a slightly lower decline than first expected: The second reading shows a decline of 31.7%, compared to an initial reading last month of 32.9%.

CRUCIAL QUOTE

“Albeit slow, the number of initial jobless claims continues to trend lower,” says Charlie Ripley, senior investment strategist for Allianz Investment Management. “While any improvement is a positive sign, the pace of declining claims will likely remain a concern for the Fed who has continuously portrayed a gloomy outlook for the U.S. economy.” He adds that while the Fed has “done what it can to support the recovery,” it’s likely that Chairman Powell “reiterates the need for additional fiscal stimulus” from Congress during his speech today.

KEY BACKGROUND

Stocks have continued to hit new record highs in recent weeks, led by a rally in high-flying tech stocks. The S&P 500 rose 1% on Wednesday to hit a new record close of 3,478, while the Nasdaq jumped 1.7% and also hit a new high. Wednesday’s gains put the S&P up 58% from its coronavirus pandemic low point on March 23, while the Nasdaq has soared 75% over that period.

Original Source

The post Dow Jumps Over 150 Points After Federal Reserve Announces New Approach To Inflation appeared first on Trax News.

Source link

Related Posts

Trump blasts Democratic demands for postal-service money, saying mail-in voting would be ‘fraudulent’
Business

Trump blasts Democratic demands for postal-service money, saying mail-in voting would be ‘fraudulent’

by Markel
May 28, 2022
Warren Buffett traded Goldman Sachs for gold in Berkshire Hathaway’s newly revealed portfolio
Business

Warren Buffett traded Goldman Sachs for gold in Berkshire Hathaway’s newly revealed portfolio

by Markel
May 23, 2022
AP FACT CHECK: Trump Hails Under-Performing China Trade Deal
Business

AP FACT CHECK: Trump Hails Under-Performing China Trade Deal

by Markel
May 18, 2022
Google Lobbies Australian Users Against Plans to Make It Pay For News
Business

Google Lobbies Australian Users Against Plans to Make It Pay For News

by Markel
May 13, 2022

RECOMMENDED

RCWATCHES – PATEK PHILIPPE INVESMENT GRADE WATCHES  Are Patek Philippe Watches good investments?

RCWATCHES – PATEK PHILIPPE INVESMENT GRADE WATCHES Are Patek Philippe Watches good investments?

September 22, 2023
Sleep Better During Menopause: Expert Tips And Tricks

Sleep Better During Menopause: Expert Tips And Tricks

September 21, 2023

MOST VIEWED

  • Hindenburg Report on Adani Places Mr. Modi in Dilemma

    0 shares
    Share 0 Tweet 0
  • House prices are rising – but how much might your home be making per day?

    0 shares
    Share 0 Tweet 0
  • House prices set to rise despite buyer demand drop

    0 shares
    Share 0 Tweet 0
  • Who is Wales v France referee Matthew Carley as Jaco Peyper assists for first time since Welsh fans’ scandal

    0 shares
    Share 0 Tweet 0
  • Paige VanZant sends fans into frenzy with teasing near-nude lingerie pics as ex-UFC star awaits bare-knuckle opponent

    0 shares
    Share 0 Tweet 0
  • Contact

UK WIRE© 2022 All rights reserved | Connect with your Community

No Result
View All Result
  • Politics
  • World
  • Business
  • Science
  • UK News
  • Entertainment
  • Sports
  • Fashion
  • Lifestyle
  • Travel
  • Tech
  • Health
  • Food

UK WIRE© 2022 All rights reserved | Connect with your Community