The Wall Street Journal reported that several Federal Reserve officials indicated preparations to accept a lower increase than anticipated in December and expressed a willingness to decrease the pace of hikes soon.
The US Central Bank is largely anticipated to increase interest rates by 75 basis points during its meeting in November, marking the fourth consecutive increase.
Since the central bank has been working to raise interest rates in an effort to reduce inflation, which has raised concerns about the economy collapsing into a recession, the stock market has been under pressure this year.
The Dow Jones Industrial Index increased 748. 97 points, or 2. 47 percent, to 31082. 56 points, and the Standard and Poor’s 500 index rose by 86. 97 points, or 2. 37 percent, to 3752. 75 points, and the Nasdaq collection index rose 244. 87 points, or 2. 31 percent, to 10859. 72 points.
The three major indicators all rose sharply on a weekly basis; the NASDAC composite fade grew by 5. 22%, the Standard & Poor’s by 4. 89%, and the Dow Jones Index by 4. 74%; this is thought to be the best week since last June.
Positive weekly performance for American stocks
About Author
