· Wall Street’s main stock indexes ended modestly higher on Wednesday after the U.S. Federal Reserve held interest rates steady and signaled that borrowing costs are likely to remain unchanged indefinitely.
The U.S. central bank said moderate economic growth and low unemployment are expected to continue through next year’s presidential election.
With the Fed expected to stand pat on rates this time, investors have been more focused on U.S.-China trade relations, including new tariffs on Chinese goods. President Donald Trump has said the new tariffs will go into effect on Dec. 15, but uncertainty remains over whether they will be implemented.
Data on Wednesday did show U.S. consumer prices increased solidly in November.
The Dow Jones Industrial Average .DJI rose 29.37 points, or 0.11%, to 27,911.09, the S&P 500 .SPX gained 9.1 points, or 0.29%, to 3,141.62, and the Nasdaq Composite .IXIC added 37.87 points, or 0.44%, to 8,654.05.
· European stocks traded cautiously Wednesday as investors await the U.S. Federal Reserve’s interest rate decision and monitor developments ahead of the weekend’s U.S.-China trade tariff deadline.
The pan-European Stoxx 600 moved slightly higher in afternoon trade to close provisionally 0.22% higher, with utilities and basic resources leading gains.
The Fed’s final interest rate decision of the year is due later in the day stateside, with the central bank widely expected to hold rates steady.U.S. stocks rose slightly on Wednesday.
· Stocks in Asia edged higher in Thursday morning trade after the U.S. Federal Reserve signaled overnight that it would not raise interest rates in 2020.
The Nikkei 225 and Topix indexes in Japan hovered above the flatline in early trade, while South Korea’s Kospi added 0.87%.
Meanwhile, shares in Australia declined in morning trade, with the S&P/ASX 200 around 0.5%.
Overall, the MSCI Asia ex-Japan index traded 0.19% higher.
Investors watched for market reaction to comments from the Fed. The U.S. central bank left interest rates unchanged on Wednesday, a decision that was largely anticipated — capping a year where the Fed cut its benchmark rate three times. The central bank also indicated it does not expect any policy changes through at least 2020.
Reference: CNBC, Reuters
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