Following the latest interest rate hike, US stocks gain ground
Following the Federal Reserve's widely expected interest rate hike Wednesday morning, Wall Street stocks rose.
Stocks rose 0.7% . Nasdaq gained 0.4%, while Dow Jones rose 183 points, or 0.6%.
Investors are waiting to hear the Fed's latest interest rate update, which is expected to shift the overall market between gains and losses. A discussion on inflation and the Fed's efforts to control it will be discussed later in the day by Fed Chair Jerome Powell.
Amidst multiyear highs in Treasury yields, they remain relatively stable. Toward the end of Tuesday, the 2-year Treasury yield increased to 3.98% from 3.97%. Earlier this week, the 10-year Treasury yield dropped to 3.54% from 3.56%.
21 September 2022