TELETRADER News
5/25, 10:00 PM (Source: TeleTrader)
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Wall Street soars at close as Fed confirms rate hike

Major stock markets in the United States ended Wednesday's session with significant gains after the Federal Reserve confirmed in its latest report that Fed officials strongly favored multiple 50 basis point rate hikes at the upcoming meetings of the Federal Open Market Committee.

Finland's and Sweden's bids to join NATO have been put on hold until the two countries resolve security issues with Turkey. Meanwhile on the business front, Twitter's co-founder Jack Dorsey announced he has left the platform's board of directors amid Elon Musk's plans to buy the company, pushing stock nearly 4% higher.

The Dow Jones soared 0.60% or 191 points at the closing bell. The Nasdaq 100 jumped by 1.48% or 174 points, with Zoom climbing another 8.5% after overperforming Q1 earnings. The S&P 500 gained 0.95%. The euro declined 0.54% against the dollar at 3:57 pm ET to sell for 1.06784.

Baha Breaking News (BBN) / ND