Wall Street soars premarket after Fed's call
Stock exchanges on Wall Street rallied in the premarket hours on Thursday following the two-day policy meeting by the Federal Reserve, during which officals voted to increase key interest rates by a quarter-point. The lack of reference to the necessity for "ongoing increases" in the policymakers' statement seemed to suggest that the Federal Reserve's monetary tightening may be coming to an end.
Federal Reserve Chair Jerome Powell assured that all depositors' savings are safe in the United States, expressing support for stronger regulation and supervision of the financial sector in the country. In the coming hours, jobs data and report on the new home sales will be published.
The Dow Jones Industrial Average jumped 0.57% or 181 points at 4:27 am ET. The Nasdaq 100 soared 1.13% and the S&P 500 climbed 0.76%. The euro rose 0.38% against the dollar, to sell at $1.08964.