Major US stock indexes mostly rose on Wednesday, as the rise in the price of shares in the industrial goods sector compensated for the fall in quotations of the financial sector. At the same time, investors analyzed inflationary data for the US, and played out the results of the December meeting of the Fed.
As it became known, consumer prices in the US accelerated in November against the backdrop of a recovery in gasoline prices, but a drop in spending on health and clothing led to a drop in inflationary pressures. The Labor Department reported on Wednesday that the consumer price index rose 0.4% last month after rising 0.1% in October. This increased the CPI growth year on year to 2.2% from 2.0% in October.
Regarding the meeting, the Fed decided to raise the interest rate by 0.25%, to the range of 1.25% -1.50%. The Central Bank also revised upward its forecasts for the growth of the US economy, saying that it intends to continue raising rates if the situation in the economy develops in line with their forecasts. Fed executives did not significantly change their forecasts for the rate or inflation, although they now expect the economy to grow faster than expected in September. In addition, they believe that the situation in the labor market will continue to improve.
Most components of the DOW index finished trading in positive territory (19 out of 30). Caterpillar Inc. was the growth leader. (CAT, + 3.56%). Outsider were shares of International Business Machines Corporation (IBM, -1.71%).
Most sectors of the S & P index recorded an increase. The industrial goods sector grew most (+ 0.5%). The largest decrease was shown in the financial sector (-0.7%).
At closing:
DJIA + 0.33% 24,585.43 +80.63
Nasdaq + 0.20% 6.875.80 +13.48
S & P -0.05% 2.662.85 -1.26