US Federal Reserve officials still expect cut interest rates three times this year. Specifically, nine of the 19 Fed policymakers predict three quarter-point cuts this yearand other nines project two or less. Only one foresees more cuts than the average.
Now, the market’s attention will focus on the Fed Chairman’s conference, Jerome Powellon the path of the US Central Bank’s monetary policy.
Wall Street rose to all-time highs this monthsupported by optimism about artificial intelligencebut retreated somewhat in recent weeks after reports show that the inflation it becomes stronger. This shakes confidence that the Fed start its rate hike cycle soon.
How did Wall Street react to the Fed’s decision to maintain rates?
In a scenario of high volatility, Wall Street’s main indices started with a sharp rise, but quickly deflated. He S&P 500 It reached 5,200, but was not maintained and dropped to 5,192.80 units. Meanwhile, the Dow Jones Industrial Average climbed 137.19 points, or 0.4%, to 39,247.95, while the Nasdaq Composite gains 83.18 points, or 0.5%, to 16,249.97.
Most mega-cap growth stocks rose, while tesla gained 0.3% after confirming that it will increase the price of Model Y vehicles produced in China by 5,000 yuan ($694.55) starting April 1.
The government of Joe Biden announced the granting to Intel of almost $20 billion in grants and loanswhich sent the chipmaker’s shares up 1.2%.
Source: Ambito
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