Wall Street closing in region of +1.5% on Fed delays

FXStreet (Guatemala) – Wall Street was a strong close today with readings signifying a delay to a Fed hike yet again.

The market is looking at the timings of a Fed hike rather than earnings it appears. Fed’s Dudley came with a bearish rhetoric while trying to remain hawkish.

The Dow Jones Industrial Average up 217.00 points, or 1.28 percent, at 17,141.75, as JPMorgan Chase, Goldman Sachs and Boeing on top while UnitedHealth was the worst performer. The S&P 500 also closed up by 1.49 percent, 29.62 points, finishing at 2,023.86. Finally, the Nasdaq closed up 87.25 points, or 1.82 percent, at 4,870.10.

The data today came with the CPI’s surprising to the upside at 0.0% vs -0.1% expected but lower than previous at 0.2%. However, core was up at 0.2% vs 0.1% previous, also beating expectations. The YoY ex food and energy reading however, resulted at 1.9%, above expectations of 1.8%, while the weekly unemployment claims decreased to 255K last week, against 270K expected.

Wall Street was a strong close today with readings signifying a delay to a Fed hike yet again. The market is looking at the timings of a Fed hike rather than earnings it appears.

(Market News Provided by FXstreet)