11 Aug 2015
US stocks end higher, DJIA snaps 7-sesssion losing streak
FXStreet (Córdoba) - US stocks surged on Monday after a couple of Fed speakers raised doubts of a September rate hike, which was welcomed by equities’ investors while a deal in the industrial sector fueled the rally.
The Dow Jones Industrial Average rose 241.79 points, or 1.39%, to 17,615, snapping a seven-session losing streak, its worst since 2011. The S&P 500 Index gained 26.61 points, or 128%, at 2,104. The Nasdaq Composite Index climbed 58.25 points, or 1.16%, to close at 5,101.
Fed’s Vice Chairman Stanley Fischer said the US labor market is nearly back to full health, but that inflation “remains weak”, which suggested a rate hike could be delayed until inflation gets closer to 2% target. Meanwhile, Fed’s watcher WSJ Jon Hilsenrath stated that market inflation expectations are softer and could complicate September liftoff.
Also, Federal Reserve Bank of Atlanta President Dennis Lockhart said the Fed is close to raising interest rates but reiterated there is no preordained date, and the timing will be data dependent.
The Dow Jones Industrial Average rose 241.79 points, or 1.39%, to 17,615, snapping a seven-session losing streak, its worst since 2011. The S&P 500 Index gained 26.61 points, or 128%, at 2,104. The Nasdaq Composite Index climbed 58.25 points, or 1.16%, to close at 5,101.
Fed’s Vice Chairman Stanley Fischer said the US labor market is nearly back to full health, but that inflation “remains weak”, which suggested a rate hike could be delayed until inflation gets closer to 2% target. Meanwhile, Fed’s watcher WSJ Jon Hilsenrath stated that market inflation expectations are softer and could complicate September liftoff.
Also, Federal Reserve Bank of Atlanta President Dennis Lockhart said the Fed is close to raising interest rates but reiterated there is no preordained date, and the timing will be data dependent.