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Dow Jones Index: FOMC Leaves Gains Intact

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FOMC, Dow Jones Index, US Economic system – Speaking Factors

  • FOMC announcement retains charges unchanged at 0-0.25%, as anticipated
  • The Dow Jones Index stays greater following the coverage assertion
  • Fed Chair Powell anticipated to talk shortly – Verify again for updates

As anticipated, the Federal Reserve’s Federal Open Market Committee saved charges unchanged Wednesday afternoon at 0-0.25%. The Dow Jones Index was unaffected because the announcement crossed the wires, with the index persevering with in optimistic territory following some transient whiplash, at the moment greater by 0.29%. With no main coverage shifts introduced this afternoon, the accommodative stance continues to be the established order, as anticipated.

Dow Jones Index (1-Min Chart)

Dow Jones FOMC

Supply: IG Charts

With the Fed already in an aggressive stance following its actions surrounding the COVID-19 pandemic and right now’s reinforcement of that stance, upward stress might proceed within the short-term for US fairness markets. Certainly, a serious enhance to markets stays the Fed’s quantitative easing actions by means of its stability sheet, now hovering just below 7 trillion in complete. Concerning the continued COVID-19 pandemic, the Fed acknowledged “The trail of the financial system will rely considerably on the course of the virus.”

S&P 500 Versus Fed Steadiness Sheet

Dow Jones Index: FOMC Leaves Gains Intact

Chart created in TradingView by Thomas Westwater

Including to the Fed’s “no matter it takes” stance to assist the financial system was an announcement extending the lending amenities put in place earlier this yr, designed to assist the move of credit score all through the financial system. Fed Chair Powell might be talking momentarily. Actually, merchants will tune into any language or adjustments in tone from Mr. Powell to guage the continued dedication to assist the financial system.

** Breaking Information – Verify again for updates **

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