Early Thursday trading saw the stock DOW jones rise sharply following a report by the federal reserve signaling it would be aggressive on tapering and sees three interest rate hikes by 2022. The Dow Jones Industrial Average futures market jumped over 270 points following the news as the expectations traders harbored for the interest rate increased.
source
The fed news had been communicated previously and is now impacting different sectors in the market. The stock market rose with DOW adding 1.08% and S&P 500 adding 1.68% however defensive sectors like utility and healthcare led the markets with healthcare stocks united health rising about 3.1%.
source
The fed news had been communicated previously and is now impacting different sectors in the market. The stock market rose with DOW adding 1.08% and S&P 500 adding 1.68% however defensive sectors like utility and healthcare led the markets with healthcare stocks united health rising about 3.1%.
Due to the recent inflation data which gave data of a 6.8% surge in November, the Fed has revised its asset purchase policy and would begin reducing the pace of asset purchases by next year. Speculations are to purchase just $60 billion of bonds going forward next year as against the $90 billion of bonds that were purchased this December.
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