- DJIA, climbed 240.29 points, or 0.9%, to 26,202.73.
- S&P 500 index climbed 23.92 points, or 0.8%, to 2,924.43.
- The Nasdaq Composite Index ran up 71.65 points, or 0.9%, to 8,020.21.
The Federal Open Market Committee minutes was the one to watch in the US session which did little to sway the market's opinion that the Federal Reserve will cut interest rates again, likely as soon as the next meeting around in September.
FOMC minutes highlights:
- Participants said forward guidance and QE might not be enough to eliminate protracted risks at the lower bound.
- Several said uncertainties remained about the efficacy of QE.
- A number of Fed officials stressed the need for Fed flexibility.
- A couple of policymakers would have preferred a 50 bp cut to address low inflation.
- Several favoured maintaining rates unchanged.
- Those who favoured cut pointed to decelerating economy, elevated risks on the global economy and inflation.
- A few policymakers expressed concern of 3m/10y yield curve inversion.
Consequently, the Dow Jones Industrial Average, DJIA, climbed 240.29 points, or 0.9%, to 26,202.73, while the S&P 500 index climbed 23.92 points, or 0.8%, to 2,924.43. The Nasdaq Composite Index ran up 71.65 points, or 0.9%, to 8,020.21. The upside performance followed the minutes from the Federal Reserve’s July 30-31 meeting which showed the Fed is ready to act if need be with respect to implementing policy changes.
|Today last price||26268|
|Today Daily Change||366.00|
|Today Daily Change %||1.41|
|Today daily open||25902|
|Previous Daily High||26204|
|Previous Daily Low||25894|
|Previous Weekly High||26430|
|Previous Weekly Low||25238|
|Previous Monthly High||27408|
|Previous Monthly Low||26616|
|Daily Fibonacci 38.2%||26012.42|
|Daily Fibonacci 61.8%||26085.58|
|Daily Pivot Point S1||25796|
|Daily Pivot Point S2||25690|
|Daily Pivot Point S3||25486|
|Daily Pivot Point R1||26106|
|Daily Pivot Point R2||26310|
|Daily Pivot Point R3||26416|
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.