US markets react sharply on Janet Yellen statement
Shital Jibhe / 15 Feb 2017
The US markets are having a flourishing trade. Janet Yellen, the Chair of the Board of Governors of the Federal Reserve System said that waiting for too long to raise the interest rates would be unwise.
The US markets are having a flourishing trade. Janet Yellen, the Chair of the Board of Governors of the Federal Reserve System said that waiting for too long to raise the interest rates would be unwise.
Following this statement, the US markets reacted sharply, where the Dow Jones Industrial Average ended gaining 92 points and Goldman Sachs contributing most to the gains. Nasdaq ended with the gains of 18.62 points, while Apple hit an intraday high. S&P 500, ended 9 points higher, hitting its 15th record high since November 8, 2016.
Donald Trump's tax cut promise was responsible for the markets to spice up last week, and now the Fed Chair, Janet Yellen has added to the glory of the US markets. With her statement, the probability of rate hike in March looks eminent.
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