Guangdong Sheng, China – August 28, 2018 – The Fed meet this Friday at Jackson Hole has been followed by the S&P 500 and Nasdaq reaching their historic highs, though the dollar has weakened post the meet. The market now expects the rates to rise gradually next month.
The reaction to the Fed meet saw the Dow Jones Industrial Average appreciate by around 139 points, hitting a little over 25,796, while the S&P 500 added 16.57 points. Among the sectors, energy rose by 1.19 percent and materials by 1.41 percent.
Another major event that was awaited was the conclusion of trade talks between the US and China, and on this front, disappointment was in store, with further tariff war expected to continue. As far as stocks are concerned, the Fed indicated a gradual rise in rates as the strategy to protect US economy, with the focus on job growth and keeping inflation under control at 2%.
Going forward, the US markets can be seen as moving upwards backed by good economic growth, earnings and low interest rates.
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