Among sectors, the real estate and consumer discretionary segments were the best performers on the day.
The S&P 500 has risen so far in 2023 after falling sharply last year. Hopes that the Fed can stop its rate hike cycle soon have buoyed the market in recent sessions, even as comments from some Fed officials support the view that the central bank should continue to take a tight approach.
In recent weeks, investors have been optimistic about signs that inflation is moderating and, meanwhile, that the US central bank could consider stopping raising interest rates or, at least, reducing their pace.
The reference rate of the Federal Reserve (Fed) is currently in a range between 4.3% and 4.5%.
On the other hand, investors will scrutinize the monthly inflation figures to be released on Thursday and fourth quarter 2022 business results for major US companies.
Reports from the main banks are expected on Friday, such as Bank of America, JPMorgan Chase and Citigroup.
All sectors also started the day in green, with the greatest gains for non-essential goods (1.8%) and real estate (1.7%).
In other markets, Texas oil was up at this time at $76.82 a barrel, The yield on the 10-year US bond fell to 3.6%, gold rose to $1,877.10 an ounce and the dollar lost ground against the euro, with a change of 1.0772.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
