17 Jun 2014
Wall Street up ahead of FOMC
FXStreet (Guatemala) - U.S. stocks were up again by 0.22 percent in the Standard and Poor’s 500 Index pulled up on smaller companies ahead of the Fed this week.
Standard and Poor’s Index finished in New York 1,942.07, with seven out of ten major industries in the S&P 500 up. Financial stocks were adding 0.9 percent for the largest gain of the pack.
The Dow Jones Industrial average was up 27.48 points at 16,808.49. In respect of the Federal Open Market Committee, their two-day meeting is already underway today. Markets have likely priced in their intentions to reduce the pace of monthly asset purchases by $10B to $35B. Markets will however be listening closely to Yellen’s new set of quarterly forecasts for unemployment, inflation and general economic growth and a benchmark for the federal funds rate.
Standard and Poor’s Index finished in New York 1,942.07, with seven out of ten major industries in the S&P 500 up. Financial stocks were adding 0.9 percent for the largest gain of the pack.
The Dow Jones Industrial average was up 27.48 points at 16,808.49. In respect of the Federal Open Market Committee, their two-day meeting is already underway today. Markets have likely priced in their intentions to reduce the pace of monthly asset purchases by $10B to $35B. Markets will however be listening closely to Yellen’s new set of quarterly forecasts for unemployment, inflation and general economic growth and a benchmark for the federal funds rate.