Dow Jumps 270 Points in Early Action as Draghi Comments Spark Fresh Hope For Fed Rate Cuts
Tuesday, 18 June 2019 20:53 WIB |
MARKET UPDATE |DOW JONESSaham AS
U.S. stocks on Tuesday climbed, extending Monday's gains, as investors awaited the start of the Federal Reserve's two-day policy meeting, set to kick off later Tuesday morning.
Comments by European Central Bank President Mario Draghi about his view that rate cuts may be necessary if the economic climate in Europe worsens and if inflation fails to rise closer to the ECB's annual target at or near 2%.
The Dow Jones Industrial Average rose 266 points, or 1%, at 26,368, the S&P 500 index climbed 0.9% to 2,915, while the Nasdaq Composite Index jumped 1.3% at 7,943.
Draghi said ECB policy makers would consider "in the coming weeks" how to adapt their policy tools "commensurate to the severity of the risk" to the economic outlook, which was taken as an indication that the central bank might consider further easing measures.
Source : Market Watch