© Reuters.
Investing.com – U.S. stock markets opened significantly higher today after the open, a day after , and minutes after interest rates.
Federal Reserve Chairman Jerome Powell’s talk of progress in reducing inflation reinforced bets on a slower decline in the US economy.
While both the dollar and gold reversed their trends during these moments of today’s dealings, after the dollar remained a loser in most of the day’s trading, it is now rising strongly, and gold turned downwards after its gains during today’s trading reached 1.8%.
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interest decisions
The European Central Bank announced the interest rate decision a while ago, and raised it by 50% to reach 3%, as indicated by experts’ expectations, as the bank is trying to control prices through a growing increase in European interest rates, which heralds a severe recession in the coming period.
With this increase, the European Central Bank – along with the Bank of England, which raised interest rates by 50 points to reach 4% a short while ago – is following in the footsteps of its US Federal counterpart, which raised, yesterday, Wednesday, as was widely expected, after raising it by 50 basis points in the previous week. Last December, following four consecutive increases of 75 points, bringing the benchmark interest rate to a range of 4.50% to 4.75%, the highest level since 2007.
bleak outlook
Mike Wilson, chief strategist at Morgan Stanley, warned the markets about the underperformance of US stocks; Driven by the possibility that the somewhat strong performance of the US stock market in the recent period is temporary, due to the pessimistic results of the financial statements of US companies.
The economist added that the recent financial statements of some American companies are considered one of the worst results in a long time. This casts a negative shadow over the performance of the US stock market during the coming period, on the sidelines of a television interview with Bloomberg yesterday, Wednesday.
The analyst denounced some people’s belief that companies recorded better financial results than the markets had feared. In the wake of the turmoil in US stocks last year; He reasoned that these disappointing results may have negative repercussions on the US stock market.
markets now
Wall Street at the opening
US stocks jumped at the open on Thursday, with the Nasdaq index up 2 percent as Meta (NASDAQ:) platform shares rose thanks to the implementation of strict cost controls.
The Nasdaq Composite Index rose 248.83 points, or 2.11 percent, to 12,065.15 points.
The industrial index rose 36.34 points, or 0.11 percent, to 34,129.30 points.
While the index increased by 39.47 points, or 0.96 percent, to 4,158.68 points.
gold now
It fell during the current moments to levels near $ 1919 an ounce, down by 1.5%.
On the other hand, futures contracts for the yellow metal fell during these moments of today’s trading, at levels near $ 1934 an ounce, a decrease of about 0.55%.
dollar now
At the current moment, it rose strongly to the levels of 101,697 points.
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