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FOMC Protocols Inspire Investors

Published 04/10/2014, 07:22 AM
Updated 03/09/2019, 08:30 AM

Yesterday, we emphasized that special attention should be paid to the publication of protocols of the last meeting of the FOMC, which, as a result, helped the American stock market to finish the trading day with an increase.

The Dow Jones Industrial Average index increased by 1,11% to the level of 16437,18 points, the S&P 500 added 1,09% and was closed at the level of 1872,18 points, and the index of high-tech companies, Nasdaq Composite, moved up on 1,72% and reached the level of 4183,90 points.

Minutes from the last FED meeting showed that the majority of the members changed their attitude towards the situation in the U.S. According to the protocols, most of the members revised the GDP growth forecast downwards, and expressed concerns about achieving the inflation target. In addition, the regulator took the decision to abolish the unemployment rate at 6,5%, as one of the signals to higher interest rates.

The European trading session was also rather positive and the majority of the stock indices were able to recoup losses of the previous days. The British, FTSE 100 rose by 0,70%, the French CAC 40 increased by 0,40%, and Germany's DAX added 0,20% . The Regional indicator STXE 600, in turn, increased by 0,40% and was closed on the level of 335,16 points. Among the published statistical data in the region, Germany's trade surplus in February can be noted, which was at the level of 15,7 billion euros, while analysts were expecting a surplus of 17,8 billion euros.

Today is expected to be quite a quiet day in relation to the publication of macroeconomic statistical data, so the participants of the markets are going to look for external information, which could influence the movements in the markets. As previously mentioned, the U.S. started its corporate reporting season, and despite the controversial start with Alcoa, so far the results are rather good.

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