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Fed report pushed Wall Street indexes to new records

Shares on US stock markets closed Wednesday trading session with new records after receiving strong support by the report of the last Federal Reserve meeting. According to the central bankers, the US economy could withstand another increase in interest rates.

The Dow Jones Industrial Average index has grown by 42.21 points (+0.18%) and finished at a record level of 22,872.89 points, with Johnson&Johnson contributing mostly for the growth. The benchmark S&P 500 also recorded a record closing level of 2555.24 points after an increase of 0.18%, mostly being supported by the real estate companies. The technological Nasdaq composite rose by 0.25% to 6,603.55 points.

The protocol showed that the rise in interest rates in December remains a probability despite weak inflation. Most market participants are already expecting an increase in interest rates in December.

Government bond yields were mainly traded with increases following the publication of the meeting minutes. The 10-year government bond yields ended at a level of about 2.339%, while 2-year government securities reached 1,513%.

But the dollar fell to a 2-week low against a basket of currencies after the news. The dollar index lost 0.39% to 92.73 points.

Due to the Fed’s record, gold was able to recover after its earlier losses, with futures rising to 1,294.30 USD per troy ounce.

About James McGovern

James McGovern is from Arizona, USA. He is business analyst and writer at Finance Apprise Journal, responsible for finance and trading sections, as well as news from USA and Canada.

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