Friday, April 19, 2024

U.S. stocks end higher, with Nasdaq gaining more than 8% weekly gains

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U.S. stocks rose during trading on Friday, supported by the Federal Reserve’s interest rate decision, which shows the central bank’s seriousness in controlling inflation.

As diplomatic talks between the Moscow and Kiev delegations continued, Russian President Vladimir Putin yesterday attacked in his statements the fifth column of pro-Western elements seeking to destroy the traitors and Russia.

Also, markets understood the Federal Reserve’s decision this week to raise interest rates by 0.25% to 0.50% by 25 basis points.

Central Bank member James Bullard said the central bank should raise interest rates 12 times by 2022 to control inflation.

In another context, US President Biden this week criticized the continuing rise in fuel prices in the United States despite falling oil prices in world markets.

The Bank of England also decided to raise interest rates by 25 basis points to 0.75%, the bank’s third consecutive interest rate hike.

At the end of the session, the Dow Jones Industrial Average rose 0.8% (approximately 274 points) to 34,755 points, reaching a weekly profit of 5.5%, the largest since November 2020.

The Nasdaq was up 2.1% (279 points) at 13,894 points, up 8.2% this week, while the broader “S&P 500” was up 1.2% (equivalent at 51 points) at 4,463 points. Weekly profit. 6.2%.

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Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

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