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7 Jan 2015
US Stocks maintain gains after Fed minutes
FXStreet (Mumbai) - The stock markets in the US maintain gains, as the December Federal Reserve minutes did not show commitment by policy makers to any particular timetable for raising rates, while acknowledging improved US economy.
At the time of writing, the S&P 500 traded 1.085 higher at 2024.40, while the DJIA traded 1.12% higher at 17,565.50 levels. The stock markets are holding on to their biggest gain in three weeks.
The minutes revealed policy makers do not see a rate hike before late April. “Most participants thought the reference to patience indicated that the committee was unlikely to begin the normalization process for at least the next couple of meetings,” according to the minutes of the Dec. 16-17 Federal Open Market Committee meeting released today. Meanwhile, the minutes also cautioned inflation could remain too low on weak energy prices and a strong US dollar.
Earlier today, the stock markets saw early buying after the ADP report showed the economy added 241K jobs in December, comfortably beating the expectation of 225K. The stocks are likely to remain well supported since the Fed minutes pledged to be patient in its approach to raising rates.
At the time of writing, the S&P 500 traded 1.085 higher at 2024.40, while the DJIA traded 1.12% higher at 17,565.50 levels. The stock markets are holding on to their biggest gain in three weeks.
The minutes revealed policy makers do not see a rate hike before late April. “Most participants thought the reference to patience indicated that the committee was unlikely to begin the normalization process for at least the next couple of meetings,” according to the minutes of the Dec. 16-17 Federal Open Market Committee meeting released today. Meanwhile, the minutes also cautioned inflation could remain too low on weak energy prices and a strong US dollar.
Earlier today, the stock markets saw early buying after the ADP report showed the economy added 241K jobs in December, comfortably beating the expectation of 225K. The stocks are likely to remain well supported since the Fed minutes pledged to be patient in its approach to raising rates.