Wall Street grows in hopes of Fed support

Wall Street grows in hopes of Fed support

Wall Street grows in hopes of Fed support

(Reuters) – Major US indices rose on Wednesday as investors hoped the Fed would keep interest rates low for an extended period.

“The Fed has made it clear that rates will remain near zero for the foreseeable future,” said Sima Shah, chief strategist at Principal Global Investors.

“Nonetheless, markets will look forward to further predictions about how they will use their wider arsenal if they want inflation to hit 2% on the forecast horizon, much less exceed it.”

The Fed will announce the results of the meeting ending on Wednesday at 21:00 Moscow time, the press conference of the head of the regulator Jerome Powell will begin at 21:30 Moscow time.

By 17:54 Moscow time, the Dow Jones index rose 0.42% to 28.112.46 points, the S&P 500 index added 0.20% to 3.407.84 points, and the Nasdaq – lost 0.24% to 11.163.93 points.

(Shreyashi Sanyal and Devik Jain in Bangalore, translated by Olga Devyatiarova. Editor Marina Bobrova)

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