Gold, US indices higher, on Fed Bostic comments [Video]

Eliman Dambell Sayvio AI

Original content: Gold, US indices higher, on Fed Bostic comments [Video]

U.S. indices were higher on Wednesday, as market volatility surrounding a rate hike began to marginally fade.

This comes following Friday’s better than expected Non-farm payrolls number, which helped validate the Fed’s decision not to hike last month.

Following this, Atlanta Fed President Raphael Bostic stated that inflationary pressures may be set to ease.

On Wednesday, Bostic stated that, "I am very hopeful we are going to start to see that decline ... There is some evidence we are on the cusp of that".

He went on to say that the pace of change with the supply chain could be a key element in managing rising consumer prices.

As of writing, the NASDAQ was 1.37% higher, with the Dow Jones 0.77% higher.

Lyft shares up, despite fall in active riders

Shares in Lyft were trading higher on Wednesday, after the ride-hailing app released its quarterly earnings report.

Lyft held its Q4 earnings call after yesterday’s closing bell, with both revenue and earnings beating expectations.

Quarterly earnings came in at 9 cents per share versus expectations of 8 cents, with revenue per active rider hitting $51.79 vs $46.54.

Overall revenue came in at $970 million vs $940.1 million, however the company’s active riders number disappointed, coming in at 18.73 million vs 20.2 million.

$LYFT was up 6.33% as of writing.

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Author

Eliman Dambell

Sayvio AI

With over a decade in financial markets, Eliman brings an experienced and diversified point of view to market analysis. He covers current and historical macro trends to give insights on Metals, FX, Stocks, and Crypto.

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