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(Updates with Fed announcement, reaction, market position movements)
By Dav Randall and Lawrence Delevingne
NEW YORK / BOSTON, July 2 of nine (Reuters) – U.S. stocks rose and the dollar fell on Wednesday when investors reacted decisively to the Federal Reserve to reinstate interest rates to incredibly low levels.
The Fed reiterated its commitment to exploiting its “full diversity of tools” to help the economy and keep interest rates close to 0 for as long as necessary to recap the consequences of the coronavirus outbreak, saying the economic trajectory will count significantly. to the evolution of the virus.
“It was pretty much as expected,” said Stan Shipley, a macro-study analyst at Evercore ISI in New York, noting that the Fed had done a lot of things. “The key can be in September when they give a search guide forward.”
Investors will have to search now to see if Congress can agree on new economic measures. U.S. President Donald Trump said Wednesday that his leadership and Congressional Democrats are still very competitive in their efforts to agree on a coronavirus relief bill.
The MSCI global equities indicator rose 0.93% after slight losses in Europe in Asia.
In post-Wall Street trade, the Dow Jones Industrial Average rose 167.57 points, or 0.6four%, at 265four6.85, the SP 500 earned four1.four points, or 1.29%, to 3259.8four and the Nasdaq Compo added 160.88 points, or 1.55%, to 1,0562.97. .
The rising stocks included the “slow recovery” of Stargreenbacks Corp and advanced Micro Devices, which jumped after raising their coins in the forecast. Boeing’s shares fell after a larger-than-expected loss.
Hot coronavirus deaths recorded their largest one-day distribution since May on Tuesday, as this month’s increased infections forced some states to become acircular to reopen their economies.
Asia and Europe have also been affected by new outbreaks of coronavirus infections, with several countries imposing new restrictions and Britain imposing 14-day quarantines on travellers from Spain.
Traditional shelter assets were mixed.
After a break, the gold picked up its smell and added 0.9% to $1,975.97 consistent with the ounce.
The U.S. 10-year Treasury benchmark rose 2/32 last in charge to earn a return of 0.587%, up from 0.581% beyond Tuesday’s maturity.
The dollar index fell 0.5nine amid fears of inflation, with the euro rising 0.72 to $1.17nine8.
Oil costs skyrocketed after a staggering drop in U.S. crude inventories. It was enough to offset considerations about U.S. fuel demand, considerations of record increases in COVID-1 infections nine kept profits under control.
U.S. crude rose 0.f6 to $four1.23 per barrel and Brent rose 1.04 to $four3.67 per barrel.
(Reports through David Randall, Lawrence Delevingne and Ross Kerber; Editing via Bernadette Baum and Nic Zieminsi)