Wall Street benchmarks rose on Thursday, with the S&P 500 and Nasdaq both posting their fourth straight trading session as traders turned to equity markets after the U.S. central bank signaled a rally. more moderate cycle of interest rate increases.
The S&P 500 index closed up 1.50% at 3,902.62 points. The Dow Jones rose 1.12% to 31,384.55 points. The Nasdaq Composite technology index rose 2.28% to 11,621.35 points.
US stock markets have been rebounding in July after a brutal first-half sell-off against the backdrop of rising inflation, the conflict in Ukraine and the Federal Reserve’s move away from an easy-money monetary policy.
The S&P 500 closed higher in each of the first four sessions so far this month, after posting its biggest percentage drop for a first half since 1970. The index has made no gains in five consecutive sessions so far in 2022.
The minutes of the Fed’s monetary policy meeting held in June showed that policymakers recognized the risk of rate hikes having a “greater-than-expected” impact on economic growth and concluded that an increase of 0.50 or 0.75 point percentage would likely be appropriate at the July meeting.
Source: CNN Brasil
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