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US stocks rise ahead of Fed speak

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 15, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Mumbai) - The stock markets in the US advanced on Thursday, ending the two-day losing streak as investors cheered the upbeat domestic data.

    At the time of writing, the Dow Jones Industrial Average (DJIA) was up 56 points and the S&P 500 was up 9.61 points. The Nasdaq had gained 33.6 points.

    Among the DJIA stocks, Boeing and Nike were leading the way with 1.9% and 1.5% gains respectively. Meanwhile, UnitedHealth stock lost 3.7%, followed by a 0.37% decline in DuPont.

    The data released earlier today showed the consumer price index stalled as opposed to an expected drop of 0.1%, while the weekly jobless claims fell to near four-decade lows. However, the upbeat did little to push up March 2016 Fed rate hike bets.

    The focus now shifts to Fed speak - St. Louis Fed President James Bullard (non-voting member), New York Fed President William Dudley (voting member) and Cleveland Fed President Loretta Mester (non-voting member).
    For more information, read our latest forex news.
     

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