US Indices Rise After Fed Maintains Possibility of December Interest Rate Rise
October 29, 2015 7:58 am
Asian shares fell and the Dollar stood tall on Thursday, after the U.S. Federal Reserve revived market expectations that it may yet raise interest rates by year-end. U.S. stocks ended sharply higher on Wednesday after a volatile session as the Federal Reserve gave a vote of confidence in the U.S. economy by signalling a December interest rate hike was still on the table. The Dow rose 198 points to 17,779.52, the SP500 gained 24 points to close at 2,090.35.
The Dollar declined slightly by 0.3% to 120.77 yen after spiking as high as 121.26 on Wednesday from a session low of 120.02. The Euro reversed earlier losses, gaining about 0.2% to $1.0938 after skidding to a two and a half month low of $1.0826 overnight.
U.S. crude fell about 0.6 percent to $45.67 a barrel. Brent slipped 0.6% to $48.78. Spot gold edged up about 0.5% in Asian trade to $1,161.71 an ounce, after skidding more than 1% in the previous session in the wake of the Fed’s hawkish message.
Barclays posted a drop in third quarter pre tax profit as the cost of claims settlements weighed on results and revenues fell. Third-quarter pre-tax profit slid to £861m from £1.22bn in the same period last year, as revenue declined to £6.11bn from £6.38 in 2014. On Wednesday, Barclays confirmed the appointment of former JPMorgan investment banking head Jes Staley as its new chief executive, replacing Anthony Jenkins. Barclays stock is down 5.5% in early trade at 240p per share.
Asian shares fell and the Dollar stood tall on Thursday, after the U.S. Federal Reserve revived market expectations that it may yet raise interest rates by year-end. U.S. stocks ended sharply higher on Wednesday after a volatile session as the Federal Reserve gave a vote of confidence in the U.S. economy by signalling a December interest rate hike was still on the table. The Dow rose 198 points to 17,779.52, the SP500 gained 24 points to close at 2,090.35.
The Dollar declined slightly by 0.3% to 120.77 yen after spiking as high as 121.26 on Wednesday from a session low of 120.02. The Euro reversed earlier losses, gaining about 0.2% to $1.0938 after skidding to a two and a half month low of $1.0826 overnight.
U.S. crude fell about 0.6 percent to $45.67 a barrel. Brent slipped 0.6% to $48.78. Spot gold edged up about 0.5% in Asian trade to $1,161.71 an ounce, after skidding more than 1% in the previous session in the wake of the Fed’s hawkish message.
Barclays posted a drop in third quarter pre tax profit as the cost of claims settlements weighed on results and revenues fell. Third-quarter pre-tax profit slid to £861m from £1.22bn in the same period last year, as revenue declined to £6.11bn from £6.38 in 2014. On Wednesday, Barclays confirmed the appointment of former JPMorgan investment banking head Jes Staley as its new chief executive, replacing Anthony Jenkins. Barclays stock is down 5.5% in early trade at 240p per share.
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