U.S. News Stocks rebound ahead of Federal Reserve meeting

Stocks rebound ahead of Federal Reserve meeting

-

- Advertisment -


Sept. 19 (BP) — Stocks on Monday recovered slightly from last week’s losses in a volatile trading session ahead of the Federal Reserve’s two-day policy meeting starting on Tuesday.

The Dow Jones Industrial Average jumped 197.26 points, or 0.64%, to close at 31,019.68. The S&P 500 gained 0.69% to 3,899.89, and the Nasdaq Composite added 0.76% to end at 11,535.02.

Stocks were down early in the day, with the S&P and the Nasdaq losing nearly 1%. However, they were able to bounce back and finish the day in the green.

Bonds were on the rise, with the benchmark U.S. 10-year treasury touching 3.5%, its highest level since 2011.

The Federal Reserve is expected to announce another raise to its benchmark rate on Wednesday, as it continues to try and battle inflation. Stocks fell last week in anticipation of more aggressive tightening from the Fed.

“We’re in a wait-and-see approach and markets are waiting for some kind of bullish or bearish catalyst to send us out of this trading range,” said Adam Sarhan, CEO of 50 Park Investments, told CNBC. “The markets are struggling for direction and that’s the fundamental news.”

The World Bank has said policy actions could make the difference between a recession and no recession amid a string of financial crises in emerging markets and developing economies, along with central banks hiking interest rates to control inflation.

Nine out of the 11 S&P 500 sectors ended the day positive. Major tech stocks like Apple and also Google rose today.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

American tourist smashes Vatican sculptures after demanding to see Pope Francis

People visit the Vatican Museums as they reopened to the public after being...

IMF presents ‘darkening outlook’ for global economy

Oct. 6 (BP) -- International Monetary Fund Director Kristalina Georgieva said Thursday the...

British grid operator preparing for possibility of winter power cuts

Oct. 6 (BP) -- The British grid operator said Thursday that customers could...

Amnesty International blasts U.N. council for not taking up Uyghur issue

Amnesty International's Secretary General Agnes Callamard said the U.N. Human Rights Council has...
- Advertisement -

Watch: Calf escapes trailer, blocks traffic on Massachusetts highway

Oct. 6 (BP) -- A young cow was caught on camera making a run for it after escaping...

Material seized in Nord Stream investigations

Oct. 6 (BP) -- The Swedish government said Thursday that "certain seizures" have...

Must read

- Advertisement -

You might also likeRELATED
Recommended to you