Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

U.S. stocks rise ahead of Fed's decision on interest rates

Published 12/14/2022, 09:54 AM
Updated 12/14/2022, 10:42 AM
© Reuters.

By Liz Moyer

Investing.com -- U.S. stocks were rising as investors await the Federal Reserve’s latest decision on interest rates later today.

At 10:38 ET (15:38 GMT), the Dow Jones Industrial Average was up 141 points or 0.4%, while the S&P 500 was up 0.4% and the NASDAQ Composite was up 0.4%.

Wall Street expects the Fed will raise rates but by a half percentage point increment, which is smaller than the 0.75 percentage point increases it has put in place after each of its four most recent meetings. 

Investors are eager to hear from Chair Jerome Powell, who will speak at a press conference after the release of the decision this afternoon. All ears will be perked for any hints as to the Fed’s thinking on how long interest rates will remain elevated and whether it foresees a reversal of policy in the next year or so.

Tuesday’s report on inflation for November showed prices are cooling, but that might not be enough to convince the Fed that its work to tame inflation is over. 

Fed officials including Powell have said recently that they see interest rates remaining higher for longer, and that the ultimate rate might be higher than the forecasts from September. Today will bring a new set of forecasts for inflation as well as gross domestic product and unemployment.

Wall Street is expecting two rate hikes of 25 basis-points next year, which would raise the terminal rate to 4.82% by May, Reuters reported.

Delta Air Lines Inc (NYSE:DAL) stock rose 3.5% after the airline said adjusted earnings are expected to nearly double next year, with a forecast for revenue to rise 15% to 20% from this year.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Aspen Group Inc (NASDAQ:ASPU) stock rose 28.5% after the online education company beat expectations for revenue.

Oil rose. Crude Oil WTI Futures were up 1.3% to $76.36 a barrel while Brent Oil Futures were up 1.2% to $81.71 a barrel. Gold Futures fell 0.2% to $1822.

Latest comments

Joe's market falls everyday
Indian market will fall tommorow
GOLD will be bull later FOMC
. 75 again😧
Looks likely to be a bull trap
markets never go down.
Oil is the one thing that could create overnight inflation and turn the market on its ear.
700+
Ah yes, the global economy could be experiencing a historic downturn, but the biggest investment JOKE in the world will have it's "Santa Rally" regardless.  And of course, it's powered by savvy "investors" are always buy when they're "waiting on the FED."  Fraudulent, criminally manipulated farce.
bought by humans or bots? is the question
expecting 200 points up this round.
Lol
0.75% God bless USA 🇺🇸
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.