TELETRADER News
9/22, 10:00 PM (Source: TeleTrader)
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US closes higher on Fed's decision to keep stimulus

Major stock markets in the United States closed higher on Wednesday following the Federal Open Market Committee (FOMC) meeting, where members voted to leave the interest rate unchanged at 0.00-0.25% until maximum employment and inflation goals are met. Adjusting of the asset purchasing program was also delayed at least till the next meeting.

Fed also revised its expectations for the US GDP to be 1.1 percentage points lower, while the unemployment rate in 2021 is estimated to be 0.3 points higher than projected. Fed's Chair Jerome Powell signaled that tapering may begin next meeting and end by mid-next year. Interest rates, however, are likely to remain unchanged until tapering is complete.

The Dow closed with 1% in the green as Boeing added 4.06%, while the S&P 500 gained 0.95% with APA Corp soaring 7.19%. The Nasdaq 100 advanced by 0.99% led by Booking Holdings jumping 3.46%. The euro lost 0.27% against the dollar trading for $1.16941 at 4:01 pm ET.

Breaking the News / LH